• Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • Settings
  • RSS Feeds
Quantisnow Logo
  • Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • Settings
  • RSS Feeds
Dashboard
    Quantisnow Logo

    © 2025 quantisnow.com
    Democratizing insights since 2022

    Services
    Live news feedsRSS FeedsAlerts
    Company
    AboutQuantisnow PlusContactJobs
    Legal
    Terms of usePrivacy policyCookie policy

    Expedia Group Reports Second Quarter 2024 Results

    8/8/24 4:01:00 PM ET
    $EXPE
    Transportation Services
    Consumer Discretionary
    Get the next $EXPE alert in real time by email

    Posts double-digit room night growth

    Drove 3 points of sequential acceleration in gross bookings growth to 6%

    Expedia Group, Inc. (NASDAQ:EXPE) announced financial results today for the second quarter ended June 30, 2024.

    "Our second quarter results came in at the high end of our expectations, with gross bookings and revenue growing 6%. We're pleased with our momentum and the sequential improvement in our consumer brands. However, in July, we have seen a more challenging macro environment and a softening in travel demand. We are therefore adjusting our expectations for the rest of the year," said Ariane Gorin, CEO of Expedia Group.

    Second Quarter Highlights

    • Total gross bookings were $28.8 billion, an increase of 6% compared to 2023.
    • Lodging gross bookings were $20.7 billion, an increase of 8% compared to 2023. Hotel bookings were up 11% compared to 2023.
    • Room nights growth accelerated to +10% with Brand Expedia at nearly 20% growth. Total room nights grew at the fastest rate since the first quarter of 2023.
    • Revenue at $3.6 billion grew 6% compared to 2023. B2B revenue was $1.0 billion, an increase of 22% compared to 2023.
    • Net income was $386 million and adjusted net income was $469 million. Adjusted EBITDA was $786 million, an increase of 5% with 15 basis points of margin contraction compared to 2023. Adjusted EBIT was $475 million, an increase of 8% with 21 bps of margin expansion compared to 2023.
    • Repurchased approximately 9.2 million shares for $1.2 billion year-to-date.

    Financial Summary & Operating Metrics (In millions except per share amounts)

     

    Expedia Group, Inc.

    Metric

    Q2 2024

    Q2 2023

    Δ Y/Y

    Booked room nights

    98.9

    89.7

    10%

    Gross bookings

    $28,837

    $27,321

    6%

    Revenue

    $3,558

    $3,358

    6%

    Operating income

    $451

    $443

    2%

    Net income attributable to Expedia Group, Inc.

    $386

    $385

    —%

    Diluted earnings per share

    $2.80

    $2.54

    10%

    Adjusted EBITDA*

    $786

    $747

    5%

    Adjusted EBIT*

    $475

    $442

    8%

    Adjusted net income (loss)*

    $469

    $428

    10%

    Adjusted EPS*

    $3.51

    $2.89

    21%

    Net cash provided by operating activities

    $1,501

    $1,146

    31%

    Free cash flow*

    $1,307

    $923

    42%

    * A reconciliation of non-GAAP financial measures to the most comparable GAAP measures is provided at the end of this release.

    Conference Call

    Expedia Group, Inc. will webcast a conference call to discuss second quarter 2024 financial results and certain forward-looking information on Thursday, August 8, 2024 at 1:30 p.m. Pacific Time (PT). The webcast will be open to the public and available via ir.expediagroup.com. Expedia Group expects to maintain access to the webcast on the IR website for approximately twelve months subsequent to the initial broadcast.

    About Expedia Group

    Expedia Group, Inc. brands power travel for everyone, everywhere through our global platform. Driven by the core belief that travel is a force for good, we help people experience the world in new ways and build lasting connections. We provide industry-leading technology solutions to fuel partner growth and success, while facilitating memorable experiences for travelers.

    Expedia Group's three flagship consumer brands includes: Expedia®, Hotels.com®, and Vrbo®. One Key™ is our comprehensive loyalty program that unifies Expedia, Hotels.com and Vrbo into one simple, flexible travel rewards experience. To enroll in One Key, download Expedia, Hotels.com and Vrbo mobile apps for free on iOS and Android devices. One Key is currently available in the U.S.

    © 2024 Expedia, Inc., an Expedia Group company. All rights reserved. Trademarks and logos are the property of their respective owners. CST: 2029030-50

    Expedia Group, Inc.

    Trended Metrics

    (All figures in millions)

    The metrics below are intended to supplement the financial statements in this release and in our filings with the SEC, and do not include adjustments for one-time items, acquisitions, foreign exchange or other adjustments. The definition or methodology of any of our supplemental metrics are subject to change, and such changes could be material. We may also discontinue certain supplemental metrics as our business evolves over time. In the event of any discrepancy between any supplemental metric and our historical financial statements, you should rely on the information included in the financial statements filed with or furnished to the SEC.

     

     

     

    2022

     

     

     

    2023

     

     

     

    2024

     

     

     

    Full Year

     

     

     

     

     

    Q1

    Q2

    Q3

    Q4

     

     

     

    Q1

    Q2

    Q3

    Q4

     

     

     

    Q1

    Q2

     

     

     

    2022

    2023

     

     

    Units sold

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Booked room nights

     

     

    77.0

    82.5

    81.6

    70.8

     

     

     

    94.5

    89.7

    89.3

    77.4

     

     

     

    101.2

    98.9

     

     

     

    312.0

    350.9

     

     

    Booked air tickets

     

     

    13.1

    13.5

    12.2

    11.1

     

     

     

    14.0

    13.6

    12.8

    11.4

     

     

     

    14.2

    14.5

     

     

     

    49.9

    51.9

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Gross bookings by business model

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Agency

     

     

    $11,346

    $12,773

    $10,904

    $9,469

     

     

     

    $13,425

    $12,370

    $10,927

    $9,439

     

     

     

    $13,301

    $12,578

     

     

     

    $44,492

    $46,161

     

     

    Merchant

     

     

    13,066

    13,366

    13,083

    11,042

     

     

     

    15,976

    14,951

    14,758

    12,233

     

     

     

    16,863

    16,259

     

     

     

    50,557

    57,918

     

     

    Total

     

     

    $24,412

    $26,139

    $23,987

    $20,511

     

     

     

    $29,401

    $27,321

    $25,685

    $21,672

     

     

     

    $30,164

    $28,837

     

     

     

    $95,049

    $104,079

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Lodging gross bookings

     

     

    $17,756

    $17,867

    $17,099

    $14,117

     

     

     

    $21,055

    $19,167

    $18,513

    $15,253

     

     

     

    $21,903

    $20,749

     

     

     

    $66,839

    $73,987

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Revenue by segment

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    B2C

     

     

    $1,740

    $2,420

    $2,707

    $1,874

     

     

     

    $1,921

    $2,415

    $2,819

    $1,958

     

     

     

    $1,986

    $2,432

     

     

     

    $8,741

    $9,113

     

     

    B2B

     

     

    432

    650

    788

    676

     

     

     

    668

    861

    995

    864

     

     

     

    833

    1,049

     

     

     

    2,546

    3,388

     

     

    trivago (third-party revenue)

     

     

    77

    111

    124

    68

     

     

     

    76

    82

    115

    65

     

     

     

    70

    77

     

     

     

    380

    338

     

     

    Total

     

     

    $2,249

    $3,181

    $3,619

    $2,618

     

     

     

    $2,665

    $3,358

    $3,929

    $2,887

     

     

     

    $2,889

    $3,558

     

     

     

    $11,667

    $12,839

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Revenue by product

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Lodging

     

     

    $1,610

    $2,400

    $2,881

    $2,014

     

     

     

    $2,029

    $2,698

    $3,233

    $2,304

     

     

     

    $2,228

    $2,862

     

     

     

    $8,905

    $10,264

     

     

    Air

     

     

    74

    95

    100

    93

     

     

     

    113

    111

    100

    86

     

     

     

    115

    111

     

     

     

    362

    410

     

     

    Advertising and media - EG(1)

     

     

    89

    102

    98

    108

     

     

     

    99

    119

    125

    140

     

     

     

    145

    152

     

     

     

    397

    483

     

     

    Advertising and media - trivago(1)

     

     

    77

    111

    124

    68

     

     

     

    76

    82

    115

    65

     

     

     

    70

    77

     

     

     

    380

    338

     

     

    Other(2)

     

     

    399

    473

    416

    335

     

     

     

    348

    348

    356

    292

     

     

     

    331

    356

     

     

     

    1,623

    1,344

     

     

    Total

     

     

    $2,249

    $3,181

    $3,619

    $2,618

     

     

     

    $2,665

    $3,358

    $3,929

    $2,887

     

     

     

    $2,889

    $3,558

     

     

     

    $11,667

    $12,839

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Revenue by geography

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    U.S. points of sale

     

     

    $1,656

    $2,208

    $2,358

    $1,717

     

     

     

    $1,748

    $2,172

    $2,440

    $1,787

     

     

     

    $1,793

    $2,246

     

     

     

    $7,939

    $8,147

     

     

    Non-U.S. points of sale

     

     

    593

    973

    1,261

    901

     

     

     

    917

    1,186

    1,489

    1,100

     

     

     

    1,096

    1,312

     

     

     

    3,728

    4,692

     

     

    Total

     

     

    $2,249

    $3,181

    $3,619

    $2,618

     

     

     

    $2,665

    $3,358

    $3,929

    $2,887

     

     

     

    $2,889

    $3,558

     

     

     

    $11,667

    $12,839

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Adjusted EBITDA by segment(3)

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    B2C

     

     

    $188

    $582

    $943

    $411

     

     

     

    $148

    $653

    $1,056

    $468

     

     

     

    $215

    $654

     

     

     

    $2,124

    $2,325

     

     

    B2B

     

     

    80

    156

    221

    142

     

     

     

    133

    206

    266

    193

     

     

     

    172

    263

     

     

     

    599

    798

     

     

    Other(4)

     

     

    (95)

    (90)

    (85)

    (104)

     

     

     

    (96)

    (112)

    (106)

    (129)

     

     

     

    (132)

    (131)

     

     

     

    (374)

    (443)

     

     

    Total

     

     

    $173

    $648

    $1,079

    $449

     

     

     

    $185

    $747

    $1,216

    $532

     

     

     

    $255

    $786

     

     

     

    $2,349

    $2,680

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Net income (loss) attributable to Expedia Group, Inc.(5)

     

     

    $(122)

    $(185)

    $482

    $177

     

     

     

    $(145)

    $385

    $425

    $132

     

     

     

    $(135)

    $386

     

     

     

    $352

    $797

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    (1) Our advertising and media business consists of Expedia Group ("EG") Media Solutions, which is responsible for generating advertising revenue on our global online travel brands, and third-party revenue for trivago, a leading hotel metasearch site.

    (2) Other revenue primarily includes insurance, car rental, destination services and cruise revenue.

    (3) See the section below titled "Tabular Reconciliations for Non-GAAP Measures — Adjusted EBITDA by segment" for additional details.

    (4) Other is comprised of trivago, corporate and intercompany eliminations.

    (5) Expedia Group does not calculate or report net income (loss) by segment.

    Notes:

    • All trivago revenue is classified as Non-U.S. point of sale.
    • Some numbers may not add due to rounding. All percentages throughout this release are calculated on precise, unrounded numbers.

    EXPEDIA GROUP, INC.

    CONSOLIDATED STATEMENTS OF OPERATIONS

    (In millions, except share and per share data)

    (Unaudited)

     

    Three months ended

    June 30,

     

    Six months ended

    June 30,

     

     

    2024

     

     

     

    2023

     

     

     

    2024

     

     

     

    2023

     

     

     

     

     

     

     

     

     

    Revenue

    $

    3,558

     

     

    $

    3,358

     

     

    $

    6,447

     

     

    $

    6,023

     

    Costs and expenses:

     

     

     

     

     

     

     

    Cost of revenue (exclusive of depreciation and amortization shown separately below) (1)

     

    362

     

     

     

    407

     

     

     

    720

     

     

     

    821

     

    Selling and marketing - direct

     

    1,793

     

     

     

    1,579

     

     

     

    3,443

     

     

     

    3,066

     

    Selling and marketing - indirect (1)

     

    197

     

     

     

    191

     

     

     

    383

     

     

     

    378

     

    Technology and content (1)

     

    331

     

     

     

    344

     

     

     

    672

     

     

     

    661

     

    General and administrative (1)

     

    180

     

     

     

    194

     

     

     

    366

     

     

     

    378

     

    Depreciation and amortization

     

    205

     

     

     

    199

     

     

     

    415

     

     

     

    391

     

    Legal reserves, occupancy tax and other

     

    21

     

     

     

    1

     

     

     

    41

     

     

     

    6

     

    Restructuring and related reorganization charges (1)

     

    18

     

     

     

    —

     

     

     

    66

     

     

     

    —

     

    Operating income

     

    451

     

     

     

    443

     

     

     

    341

     

     

     

    322

     

    Other income (expense):

     

     

     

     

     

     

     

    Interest income

     

    67

     

     

     

    63

     

     

     

    118

     

     

     

    106

     

    Interest expense

     

    (61

    )

     

     

    (61

    )

     

     

    (123

    )

     

     

    (122

    )

    Other, net

     

    31

     

     

     

    19

     

     

     

    (3

    )

     

     

    97

     

    Total other income (expense), net

     

    37

     

     

     

    21

     

     

     

    (8

    )

     

     

    81

     

    Income before income taxes

     

    488

     

     

     

    464

     

     

     

    333

     

     

     

    403

     

    Provision for income taxes

     

    (113

    )

     

     

    (77

    )

     

     

    (94

    )

     

     

    (156

    )

    Net income

     

    375

     

     

     

    387

     

     

     

    239

     

     

     

    247

     

    Net (income) loss attributable to non-controlling interests

     

    11

     

     

     

    (2

    )

     

     

    12

     

     

     

    (7

    )

    Net income attributable to Expedia Group, Inc.

    $

    386

     

     

    $

    385

     

     

    $

    251

     

     

    $

    240

     

     

     

     

     

     

     

     

     

    Earnings per share attributable to Expedia Group, Inc. available to common stockholders:

     

     

     

     

     

     

     

    Basic

    $

    2.92

     

     

    $

    2.62

     

     

    $

    1.88

     

     

    $

    1.60

     

    Diluted

     

    2.80

     

     

     

    2.54

     

     

     

    1.79

     

     

     

    1.55

     

    Shares used in computing earnings per share (000's):

     

     

     

     

     

     

     

    Basic

     

    131,948

     

     

     

    147,168

     

     

     

    133,724

     

     

     

    149,808

     

    Diluted

     

    137,832

     

     

     

    151,844

     

     

     

    140,131

     

     

     

    154,425

     

     

     

     

     

     

     

     

     

    (1) Includes stock-based compensation as follows:

     

     

     

     

     

     

     

    Cost of revenue

    $

    4

     

     

    $

    4

     

     

    $

    6

     

     

    $

    7

     

    Selling and marketing

     

    23

     

     

     

    20

     

     

     

    42

     

     

     

    40

     

    Technology and content

     

    40

     

     

     

    36

     

     

     

    80

     

     

     

    70

     

    General and administrative

     

    39

     

     

     

    46

     

     

     

    82

     

     

     

    92

     

    Restructuring and related reorganization charges

     

    8

     

     

     

    —

     

     

     

    8

     

     

     

    —

     

    EXPEDIA GROUP, INC.

    CONSOLIDATED BALANCE SHEETS

    (In millions, except number of shares which are reflected in thousands and par value)

     

    June 30,

    2024

     

    December 31, 2023

     

    June 30,

    2023

     

    (Unaudited)

     

     

     

    (Unaudited)

    ASSETS

    Current assets:

     

     

     

     

     

    Cash and cash equivalents

    $

    6,242

     

     

    $

    4,225

     

     

    $

    6,274

     

    Restricted cash and cash equivalents

     

    2,120

     

     

     

    1,436

     

     

     

    2,484

     

    Short-term investments

     

    31

     

     

     

    28

     

     

     

    27

     

    Accounts receivable, net of allowance of $57, $46 and $51

     

    4,127

     

     

     

    2,786

     

     

     

    2,903

     

    Income taxes receivable

     

    71

     

     

     

    47

     

     

     

    70

     

    Prepaid expenses and other current assets

     

    924

     

     

     

    708

     

     

     

    1,055

     

    Total current assets

     

    13,515

     

     

     

    9,230

     

     

     

    12,813

     

    Property and equipment, net

     

    2,381

     

     

     

    2,359

     

     

     

    2,318

     

    Operating lease right-of-use assets

     

    332

     

     

     

    357

     

     

     

    348

     

    Long-term investments and other assets

     

    1,283

     

     

     

    1,238

     

     

     

    1,202

     

    Deferred income taxes

     

    544

     

     

     

    586

     

     

     

    665

     

    Intangible assets, net

     

    991

     

     

     

    1,023

     

     

     

    1,180

     

    Goodwill

     

    6,847

     

     

     

    6,849

     

     

     

    7,150

     

    TOTAL ASSETS

    $

    25,893

     

     

    $

    21,642

     

     

    $

    25,676

     

     

     

     

     

     

     

    LIABILITIES AND STOCKHOLDERS' EQUITY

    Current liabilities:

     

     

     

     

     

    Accounts payable, merchant

    $

    2,206

     

     

    $

    2,041

     

     

    $

    1,775

     

    Accounts payable, other

     

    1,361

     

     

     

    1,077

     

     

     

    1,066

     

    Deferred merchant bookings

     

    12,083

     

     

     

    7,723

     

     

     

    11,523

     

    Deferred revenue

     

    176

     

     

     

    164

     

     

     

    185

     

    Income taxes payable

     

    32

     

     

     

    26

     

     

     

    61

     

    Accrued expenses and other current liabilities

     

    857

     

     

     

    752

     

     

     

    819

     

    Current maturities of long-term debt

     

    1,041

     

     

     

    —

     

     

     

    —

     

    Total current liabilities

     

    17,756

     

     

     

    11,783

     

     

     

    15,429

     

    Long-term debt, excluding current maturities

     

    5,218

     

     

     

    6,253

     

     

     

    6,247

     

    Deferred income taxes

     

    31

     

     

     

    33

     

     

     

    35

     

    Operating lease liabilities

     

    292

     

     

     

    314

     

     

     

    302

     

    Other long-term liabilities

     

    470

     

     

     

    473

     

     

     

    447

     

    Commitments and contingencies

     

     

     

     

     

    Stockholders' equity:

     

     

     

     

     

    Common stock: $.0001 par value; Authorized shares: 1,600,000

     

    —

     

     

     

    —

     

     

     

    —

     

    Shares issued: 284,861, 282,149 and 280,006; Shares outstanding: 125,281, 131,522 and 138,885

     

     

     

     

     

    Class B common stock: $.0001 par value; Authorized shares: 400,000

     

    —

     

     

     

    —

     

     

     

    —

     

    Shares issued: 12,800; Shares outstanding: 5,523

     

     

     

     

     

    Additional paid-in capital

     

    15,697

     

     

     

    15,398

     

     

     

    15,072

     

    Treasury stock - Common stock and Class B, at cost; Shares 166,857, 157,903 and 148,398

     

    (14,204

    )

     

     

    (13,023

    )

     

     

    (11,937

    )

    Retained earnings (deficit)

     

    (381

    )

     

     

    (632

    )

     

     

    (1,169

    )

    Accumulated other comprehensive income (loss)

     

    (223

    )

     

     

    (209

    )

     

     

    (207

    )

    Total Expedia Group, Inc. stockholders' equity

     

    889

     

     

     

    1,534

     

     

     

    1,759

     

    Non-redeemable non-controlling interests

     

    1,237

     

     

     

    1,252

     

     

     

    1,457

     

    Total stockholders' equity

     

    2,126

     

     

     

    2,786

     

     

     

    3,216

     

    TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY

    $

    25,893

     

     

    $

    21,642

     

     

    $

    25,676

     

    EXPEDIA GROUP, INC.

    CONSOLIDATED STATEMENTS OF CASH FLOWS

    (In millions)

    (Unaudited)

     

    Six months ended

    June 30,

     

     

    2024

     

     

     

    2023

     

    Operating activities:

     

     

     

    Net income

    $

    239

     

     

    $

    247

     

    Adjustments to reconcile net income to net cash provided by operating activities:

     

     

     

    Depreciation of property and equipment, including internal-use software and website development

     

    385

     

     

     

    361

     

    Amortization of intangible assets

     

    30

     

     

     

    30

     

    Amortization of stock-based compensation

     

    218

     

     

     

    209

     

    Deferred income taxes

     

    39

     

     

     

    (17

    )

    Foreign exchange (gain) loss on cash, restricted cash and short-term investments, net

     

    44

     

     

     

    (3

    )

    Realized (gain) loss on foreign currency forwards, net

     

    55

     

     

     

    (26

    )

    Gain on minority equity investments, net

     

    (47

    )

     

     

    (54

    )

    Other, net

     

    38

     

     

     

    28

     

    Changes in operating assets and liabilities:

     

     

     

    Accounts receivable

     

    (1,361

    )

     

     

    (846

    )

    Prepaid expenses and other assets

     

    (180

    )

     

     

    (147

    )

    Accounts payable, merchant

     

    165

     

     

     

    66

     

    Accounts payable, other, accrued expenses and other liabilities

     

    403

     

     

     

    175

     

    Tax payable/receivable, net

     

    (8

    )

     

     

    (91

    )

    Deferred merchant bookings

     

    4,360

     

     

     

    4,371

     

    Net cash provided by operating activities

     

    4,380

     

     

     

    4,303

     

    Investing activities:

     

     

     

    Capital expenditures, including internal-use software and website development

     

    (371

    )

     

     

    (456

    )

    Purchases of investments

     

    (69

    )

     

     

    —

     

    Sales and maturities of investments

     

    43

     

     

     

    22

     

    Other, net

     

    (52

    )

     

     

    46

     

    Net cash used in investing activities

     

    (449

    )

     

     

    (388

    )

    Financing activities:

     

     

     

    Purchases of treasury stock

     

    (1,172

    )

     

     

    (1,062

    )

    Proceeds from exercise of equity awards and employee stock purchase plan

     

    48

     

     

     

    40

     

    Other, net

     

    (25

    )

     

     

    4

     

    Net cash used in financing activities

     

    (1,149

    )

     

     

    (1,018

    )

    Effect of exchange rate changes on cash, cash equivalents and restricted cash and cash equivalents

     

    (81

    )

     

     

    10

     

    Net increase in cash, cash equivalents and restricted cash and cash equivalents

     

    2,701

     

     

     

    2,907

     

    Cash, cash equivalents and restricted cash and cash equivalents at beginning of period

     

    5,661

     

     

     

    5,851

     

    Cash, cash equivalents and restricted cash and cash equivalents at end of period

    $

    8,362

     

     

    $

    8,758

     

    Supplemental cash flow information

     

     

     

    Cash paid for interest

    $

    116

     

     

    $

    115

     

    Income tax payments, net

     

    57

     

     

     

    193

     

    Notes & Definitions:

    Booked Room Nights: Represents booked hotel room nights and property nights for our B2C reportable segment and booked hotel room nights for our B2B reportable segment. Booked hotel room nights include both merchant and agency hotel room nights. Property nights are related to our alternative accommodation business.

    Booked Air Tickets: Includes both merchant and agency air bookings.

    Gross Bookings: Generally represent the total retail value of transactions booked, recorded at the time of booking reflecting the total price due for travel by travelers, including taxes, fees and other charges, adjusted for cancellations and refunds.

    Lodging Metrics: Reported on a booked basis except for revenue, which is on a stayed basis. Lodging consists of both merchant and agency model hotel and alternative accommodations.

    B2C: The B2C segment provides a full range of travel and advertising services to our worldwide customers through a variety of consumer brands including: Expedia, Hotels.com, Vrbo, Orbitz, Travelocity, Wotif Group, ebookers, Hotwire.com, and CarRentals.com.

    B2B: The B2B segment fuels a wide range of travel and non-travel companies including airlines, offline travel agents, online retailers, corporate travel management and financial institutions, who leverage our leading travel technology and tap into our diverse supply to augment their offerings and market Expedia Group rates and availabilities to their travelers.

    trivago: The trivago segment generates advertising revenue primarily from sending referrals to online travel companies and travel service providers from its localized hotel metasearch websites.

    Corporate: Includes unallocated corporate expenses.

    Non-GAAP Measures

    Expedia Group reports Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted EBIT, Adjusted EBIT Margin, Leverage Ratio, Adjusted Net Income (Loss), Adjusted EPS, Free Cash Flow and Adjusted Expenses (non-GAAP cost of revenue, non-GAAP selling and marketing, non-GAAP technology and content and non-GAAP general and administrative), all of which are supplemental measures to GAAP and are defined by the SEC as non-GAAP financial measures. These measures are among the primary metrics by which management evaluates the performance of the business and on which internal budgets are based. Management believes that investors should have access to the same set of tools that management uses to analyze our results. These non-GAAP measures should be considered in addition to results prepared in accordance with GAAP, but should not be considered a substitute for or superior to GAAP. Adjusted EBITDA, Adjusted Net Income (Loss) and Adjusted EPS have certain limitations in that they do not take into account the impact of certain expenses to our consolidated statements of operations. We endeavor to compensate for the limitation of the non-GAAP measures presented by also providing the most directly comparable GAAP measures and descriptions of the reconciling items and adjustments to derive the non-GAAP measures. Adjusted EBITDA, Adjusted EBIT, Adjusted Net Income (Loss) and Adjusted EPS also exclude certain items related to transactional tax matters, which may ultimately be settled in cash. We urge investors to review the detailed disclosure regarding these matters in the Management Discussion and Analysis and Legal Proceedings sections, as well as the notes to the financial statements, included in the Company's annual and quarterly reports filed with the Securities and Exchange Commission. The non-GAAP financial measures used by the Company may be calculated differently from, and therefore may not be comparable to, similarly titled measures used by other companies.

    Adjusted EBITDA is defined as net income (loss) attributable to Expedia Group adjusted for:

    (1) net income (loss) attributable to non-controlling interests;

    (2) provision for income taxes;

    (3) total other expenses, net;

    (4) stock-based compensation expense, including compensation expense related to certain subsidiary equity plans;

    (5) acquisition-related impacts, including

    (i) amortization of intangible assets and goodwill and intangible asset impairment,

    (ii) gains (losses) recognized on changes in the value of contingent consideration arrangements; and

    (iii) upfront consideration paid to settle employee compensation plans of the acquiree;

    (6) certain other items, including restructuring;

    (7) items included in legal reserves, occupancy tax and other, which includes reserves for potential settlement of issues related to transactional taxes (e.g. hotel and excise taxes), related to court decisions and final settlements, and charges incurred, if any, for monies that may be required to be paid in advance of litigation in certain transactional tax proceedings;

    (8) that portion of gains (losses) on revenue hedging activities that are included in other, net that relate to revenue recognized in the period; and

    (9) depreciation.

    The above items are excluded from our Adjusted EBITDA measure because these items are non-cash in nature, or because the amount and timing of these items is unpredictable, not driven by core operating results and renders comparisons with prior periods and competitors less meaningful. We believe Adjusted EBITDA is a useful measure for analysts and investors to evaluate our future on-going performance as this measure allows a more meaningful comparison of our performance and projected cash earnings with our historical results from prior periods and to the results of our competitors. Moreover, our management uses this measure internally to evaluate the performance of our business as a whole and our individual business segments. In addition, we believe that by excluding certain items, such as stock-based compensation and acquisition-related impacts, Adjusted EBITDA corresponds more closely to the cash operating income generated from our business and allows investors to gain an understanding of the factors and trends affecting the ongoing cash earnings capabilities of our business, from which capital investments are made and debt is serviced.

    Adjusted EBIT is defined as net income (loss) attributable to Expedia Group adjusted for:

    (1) net income (loss) attributable to non-controlling interests;

    (2) provision for income taxes;

    (3) total other expenses, net;

    (4) acquisition-related impacts, including

    (i) gains (losses) recognized on changes in the value of contingent consideration arrangements; and

    (ii) upfront consideration paid to settle employee compensation plans of the acquiree;

    (5) certain other items, including restructuring;

    (6) items included in legal reserves, occupancy tax and other, which includes reserves for potential settlement of issues related to transactional taxes (e.g. hotel and excise taxes), related to court decisions and final settlements, and charges incurred, if any, for monies that may be required to be paid in advance of litigation in certain transactional tax proceedings; and

    (7) that portion of gains (losses) on revenue hedging activities that are included in other, net that relate to revenue recognized in the period.

    The above items are excluded from our Adjusted EBIT measure because the amount and timing of these items is unpredictable, not driven by core operating results and renders comparisons with prior periods and competitors less meaningful. We believe Adjusted EBIT is a useful measure for analysts and investors to evaluate our future on-going performance as this measure allows a more comprehensive comparison of our performance with our historical results from prior periods and to the results of our competitors. Moreover, our management uses this measure internally to evaluate the performance of our business as a whole and it allows investors to gain an understanding of the factors and trends affecting profitability, including the ongoing costs to operating our business, which we believe are inclusive of non-cash items such as stock-based compensation.

    Trailing Twelve Month Financial Information

    Expedia Group includes certain unaudited financial information for the trailing twelve months ("TTM") ended June 30, 2024, which is calculated as the six months ended June 30, 2024 plus the year ended December 31, 2023 less the six months ended June 30, 2023. This presentation is not in accordance with GAAP. However, we believe that this presentation provides useful information to investors regarding its recent financial performance, and it views this presentation of the four most recently completed fiscal quarters as a key measurement period for investors to assess its historical results.

    Adjusted Net Income (Loss) generally captures all items on the statements of operations that occur in normal course operations and have been, or ultimately will be, settled in cash and is defined as net income (loss) attributable to Expedia Group plus the following items, net of tax(a):

    (1) stock-based compensation expense, including compensation expense related to equity plans of certain subsidiaries and equity-method investments;

    (2) acquisition-related impacts, including;

    (i) amortization of intangible assets, including as part of equity-method investments, and goodwill and intangible asset impairment;

    (ii) gains (losses) recognized on changes in the value of contingent consideration arrangements;

    (iii) upfront consideration paid to settle employee compensation plans of the acquiree; and

    (iv) gains (losses) recognized on non-controlling investment basis adjustments when we acquire or lose controlling interests;

    (3) currency gains or losses on U.S. dollar denominated cash;

    (4) the changes in fair value of equity investments;

    (5) certain other items, including restructuring charges;

    (6) items included in legal reserves, occupancy tax and other, which includes reserves for potential settlement of issues related to transactional taxes (e.g., hotel occupancy and excise taxes), related court decisions and final settlements, and charges incurred, if any, for monies that may be required to be paid in advance of litigation in certain transactional tax proceedings, including as part of equity method investments;

    (7) discontinued operations;

    (8) the non-controlling interest impact of the aforementioned adjustment items; and

    (9) unrealized gains (losses) on revenue hedging activities that are included in other, net.

    Adjusted Net Income (Loss) includes preferred share dividends. We believe Adjusted Net Income (Loss) is useful to investors because it represents Expedia Group's combined results, taking into account depreciation, which management believes is an ongoing cost of doing business, but excluding the impact of certain expenses and items not directly tied to the core operations of our businesses.

    (a) Effective January 1, 2023, we changed our methodology for the computation of the effective tax rate used in the calculation of adjusted net income to a long-term projected tax rate as we believe this tax rate provides better consistency across reporting periods and produces results that are reflective of Expedia Group's long-term effective tax rate. This projected effective tax rate is a total tax rate, and eliminates the effects of non-recurring and period- specific income tax items which can vary in size and frequency. We apply this tax rate to pretax income, as adjusted commensurate with our Adjusted Net Income definition. Based on our long-term projections, in 2023 and 2024 we are applying a 21.5% effective tax rate to compute Adjusted Net Income.

    Adjusted EPS is defined as Adjusted Net Income (Loss) divided by adjusted weighted average shares outstanding, which, when applicable, include dilution from our convertible debt instruments per the treasury stock method for Adjusted EPS. The treasury stock method assumes we would elect to settle the principal amount of the debt for cash and the conversion premium for shares. If the conversion prices for such instruments exceed our average stock price for the period, the instruments generally would have no impact to adjusted weighted average shares outstanding. This differs from the GAAP method for dilution from our convertible debt instruments, which include them on an if-converted method. We believe Adjusted EPS is useful to investors because it represents, on a per share basis, Expedia Group's consolidated results, taking into account depreciation, which we believe is an ongoing cost of doing business, as well as other items which are not allocated to the operating businesses such as interest expense, taxes, foreign exchange gains or losses, and minority interest, but excluding the effects of certain expenses not directly tied to the core operations of our businesses. Adjusted Net Income (Loss) and Adjusted EPS have similar limitations as Adjusted EBITDA. In addition, Adjusted Net Income (Loss) does not include all items that affect our net income (loss) and net income (loss) per share for the period. Therefore, we think it is important to evaluate these measures along with our consolidated statements of operations.

    Free Cash Flow is defined as net cash flow provided by operating activities less capital expenditures. Management believes Free Cash Flow is useful to investors because it represents the operating cash flow that our operating businesses generate, less capital expenditures but before taking into account other cash movements that are not directly tied to the core operations of our businesses, such as financing activities, foreign exchange or certain investing activities. Free Cash Flow has certain limitations in that it does not represent the total increase or decrease in the cash balance for the period, nor does it represent the residual cash flow for discretionary expenditures. Therefore, it is important to evaluate Free Cash Flow along with the consolidated statements of cash flows.

    Adjusted Expenses (cost of revenue, direct and indirect selling and marketing, technology and content and general and administrative expenses) exclude stock-based compensation related to expenses for stock options, restricted stock units and other equity compensation under applicable stock-based compensation accounting standards. Expedia Group excludes stock-based compensation from these measures primarily because they are non-cash expenses that we do not believe are necessarily reflective of our ongoing cash operating expenses and cash operating income. Moreover, because of varying available valuation methodologies, subjective assumptions and the variety of award types that companies can use when adopting applicable stock-based compensation accounting standards, management believes that providing non-GAAP financial measures that exclude stock-based compensation allows investors to make meaningful comparisons between our recurring core business operating results and those of other companies, as well as providing management with an important tool for financial operational decision making and for evaluating our own recurring core business operating results over different periods of time. There are certain limitations in using financial measures that do not take into account stock-based compensation, including the fact that stock-based compensation is a recurring expense and a valued part of employees' compensation. Therefore, it is important to evaluate both our GAAP and non-GAAP measures. See the Notes to the Consolidated Statements of Operations for stock-based compensation by line item.

    Expedia Group, Inc. (excluding trivago) In order to provide increased transparency on the transaction-based component of the business, Expedia Group is reporting results both in total and excluding trivago.

    Tabular Reconciliations for Non-GAAP Measures

    Adjusted EBITDA (Adjusted Earnings Before Interest, Taxes, Depreciation & Amortization) by Segment(1)

     

     

    Three months ended June 30, 2024

     

    B2C

     

    B2B

     

    trivago

     

    Corporate &

    Eliminations

     

    Total

     

    (In millions)

    Operating income (loss)

    $

    533

     

     

    $

    236

     

     

    $

    (6

    )

     

    $

    (312

    )

     

    $

    451

     

    Realized gain (loss) on revenue hedges

     

    (8

    )

     

     

    (7

    )

     

     

    —

     

     

     

    —

     

     

     

    (15

    )

    Restructuring and related reorganization charges, excluding stock-based compensation

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    10

     

     

     

    10

     

    Legal reserves, occupancy tax and other

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    21

     

     

     

    21

     

    Stock-based compensation

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    114

     

     

     

    114

     

    Amortization of intangible assets

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    15

     

     

     

    15

     

    Depreciation

     

    129

     

     

     

    34

     

     

     

    1

     

     

     

    26

     

     

     

    190

     

    Adjusted EBITDA(1)

    $

    654

     

     

    $

    263

     

     

    $

    (5

    )

     

    $

    (126

    )

     

    $

    786

     

     

     

    Three months ended June 30, 2023

     

    B2C

     

    B2B

     

    trivago

     

    Corporate &

    Eliminations

     

    Total

     

    (In millions)

    Operating income

    $

    529

     

     

    $

    175

     

     

    $

    12

     

     

    $

    (273

    )

     

    $

    443

     

    Realized gain (loss) on revenue hedges

     

    (6

    )

     

     

    4

     

     

     

    —

     

     

     

    —

     

     

     

    (2

    )

    Legal reserves, occupancy tax and other

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    1

     

     

     

    1

     

    Stock-based compensation

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    106

     

     

     

    106

     

    Amortization of intangible assets

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    15

     

     

     

    15

     

    Depreciation

     

    130

     

     

     

    27

     

     

     

    1

     

     

     

    26

     

     

     

    184

     

    Adjusted EBITDA(1)

    $

    653

     

     

    $

    206

     

     

    $

    13

     

     

    $

    (125

    )

     

    $

    747

     

    (1) Adjusted EBITDA for our B2C and B2B segments includes allocations of certain expenses, primarily cost of revenue and facilities, the total costs of our global travel supply organizations, the majority of platform and marketplace technology costs, and the realized foreign currency gains or losses related to the forward contracts hedging a component of our net merchant lodging revenue. We base the allocations primarily on transaction volumes and other usage metrics. We do not allocate certain shared expenses such as accounting, human resources, certain information technology and legal to our reportable segments. We include these expenses in Corporate and Eliminations. Our allocation methodology is periodically evaluated and may change.

    Adjusted EBIT (Adjusted Earnings Before Interest & Taxes) and Adjusted EBITDA (Adjusted Earnings Before Interest, Taxes, Depreciation & Amortization)

     

     

     

    Three months ended

    June 30,

     

    Six months ended

    June 30,

     

    Year Ended December 31,

     

    TTM

    June 30,

     

     

     

    2024

     

     

     

    2023

     

     

     

    2024

     

     

     

    2023

     

     

     

    2023

     

     

     

    2024

     

     

     

    ($ in millions)

    Net income attributable to Expedia Group, Inc.

     

    $

    386

     

     

    $

    385

     

     

    $

    251

     

     

    $

    240

     

     

    $

    797

     

     

    $

    808

     

    Net income (loss) attributable to non-controlling interests

     

     

    (11

    )

     

     

    2

     

     

     

    (12

    )

     

     

    7

     

     

     

    (109

    )

     

     

    (128

    )

    Provision for income taxes

     

     

    113

     

     

     

    77

     

     

     

    94

     

     

     

    156

     

     

     

    330

     

     

     

    268

     

    Total other (income) expense, net

     

     

    (37

    )

     

     

    (21

    )

     

     

    8

     

     

     

    (81

    )

     

     

    15

     

     

     

    104

     

    Operating income

     

     

    451

     

     

     

    443

     

     

     

    341

     

     

     

    322

     

     

     

    1,033

     

     

     

    1,052

     

    Gain (loss) on revenue hedges related to revenue recognized

     

     

    (15

    )

     

     

    (2

    )

     

     

    (32

    )

     

     

    4

     

     

     

    (7

    )

     

     

    (43

    )

    Restructuring and related reorganization charges, including stock-based compensation

     

     

    18

     

     

     

    —

     

     

     

    66

     

     

     

    —

     

     

     

    —

     

     

     

    66

     

    Legal reserves, occupancy tax and other

     

     

    21

     

     

     

    1

     

     

     

    41

     

     

     

    6

     

     

     

    8

     

     

     

    43

     

    Impairment of goodwill

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    297

     

     

     

    297

     

    Impairment of intangible assets

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    129

     

     

     

    129

     

    Adjusted EBIT

     

     

    475

     

     

     

    442

     

     

     

    416

     

     

     

    332

     

     

     

    1,460

     

     

     

    1,544

     

    Stock-based compensation, excluding restructuring and related reorganization charges

     

     

    106

     

     

     

    106

     

     

     

    210

     

     

     

    209

     

     

     

    413

     

     

     

    414

     

    Depreciation and amortization

     

     

    205

     

     

     

    199

     

     

     

    415

     

     

     

    391

     

     

     

    807

     

     

     

    831

     

    Adjusted EBITDA

     

    $

    786

     

     

    $

    747

     

     

    $

    1,041

     

     

    $

    932

     

     

    $

    2,680

     

     

    $

    2,789

     

    Net income margin(1)

     

     

    10.8

    %

     

     

    11.5

    %

     

     

    3.9

    %

     

     

    4.0

    %

     

     

    6.2

    %

     

     

    6.1

    %

    Adjusted EBIT margin(1)

     

     

    13.3

    %

     

     

    13.1

    %

     

     

    6.4

    %

     

     

    5.5

    %

     

     

    11.4

    %

     

     

    11.6

    %

    Adjusted EBITDA margin(1)

     

     

    22.1

    %

     

     

    22.2

    %

     

     

    16.1

    %

     

     

    15.5

    %

     

     

    20.9

    %

     

     

    21.0

    %

     

     

     

     

     

     

     

     

     

     

     

     

     

    Long-term debt, including current maturities

     

     

     

     

     

     

     

     

     

    $

    6,259

     

    Long-term debt to net income ratio

     

     

     

     

     

     

     

     

     

     

     

     

    7.7

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Long-term debt, including current maturities

     

     

     

     

     

     

     

     

     

    $

    6,259

     

    Unamortized discounts and debt issuance costs

     

     

     

     

     

     

     

     

     

     

    35

     

    Adjusted debt

     

     

     

     

     

     

     

     

     

     

     

    $

    6,294

     

    Leverage ratio(2)

     

     

     

     

     

     

     

     

     

     

     

     

    2.3

     

     

    (1) Net income, Adjusted EBIT and Adjusted EBITDA margins represent net income (loss) attributable to Expedia Group, Inc., Adjusted EBIT or Adjusted EBITDA divided by revenue.

    (2) Leverage ratio represents adjusted debt divided by TTM Adjusted EBITDA.

    Adjusted Net Income (Loss) & Adjusted EPS

     

     

    Three months ended

    June 30,

     

    Six months ended

    June 30,

     

     

     

    2024

     

     

     

    2023

     

     

     

    2024

     

     

     

    2023

     

     

     

    (In millions, except share and per share data)

    Net income attributable to Expedia Group, Inc.

     

    $

    386

     

     

    $

    385

     

     

    $

    251

     

     

    $

    240

     

    Less: Net (income) loss attributable to non-controlling interests

     

     

    11

     

     

     

    (2

    )

     

     

    12

     

     

     

    (7

    )

    Less: Provision for income taxes

     

     

    (113

    )

     

     

    (77

    )

     

     

    (94

    )

     

     

    (156

    )

    Income before income taxes

     

     

    488

     

     

     

    464

     

     

     

    333

     

     

     

    403

     

    Amortization of intangible assets

     

     

    15

     

     

     

    15

     

     

     

    30

     

     

     

    30

     

    Stock-based compensation

     

     

    114

     

     

     

    106

     

     

     

    218

     

     

     

    209

     

    Legal reserves, occupancy tax and other

     

     

    21

     

     

     

    1

     

     

     

    41

     

     

     

    6

     

    Restructuring and related reorganization charges, excluding stock-based compensation

     

     

    10

     

     

     

    —

     

     

     

    58

     

     

     

    —

     

    Unrealized (gain) loss on revenue hedges

     

     

    (2

    )

     

     

    17

     

     

     

    (3

    )

     

     

    15

     

    Gain on minority equity investments, net

     

     

    (56

    )

     

     

    (53

    )

     

     

    (47

    )

     

     

    (54

    )

    TripAdvisor tax indemnification adjustment

     

     

    (6

    )

     

     

    2

     

     

     

    (6

    )

     

     

    (67

    )

    Gain on sale of businesses

     

     

    —

     

     

     

    (4

    )

     

     

    (3

    )

     

     

    (24

    )

    Adjusted income before income taxes

     

     

    584

     

     

     

    548

     

     

     

    621

     

     

     

    518

     

     

     

     

     

     

     

     

     

     

    GAAP Provision for income taxes

     

     

    (113

    )

     

     

    (77

    )

     

     

    (94

    )

     

     

    (156

    )

    Provision for income taxes for adjustments

     

     

    (13

    )

     

     

    (40

    )

     

     

    (40

    )

     

     

    45

     

    Total Adjusted provision for income taxes

     

     

    (126

    )

     

     

    (117

    )

     

     

    (134

    )

     

     

    (111

    )

    Total Adjusted income tax rate

     

     

    21.5

    %

     

     

    21.5

    %

     

     

    21.5

    %

     

     

    21.5

    %

     

     

     

     

     

     

     

     

     

    Non-controlling interests

     

     

    11

     

     

     

    (3

    )

     

     

    11

     

     

     

    (9

    )

    Adjusted net income attributable to Expedia Group, Inc.

     

    $

    469

     

     

    $

    428

     

     

    $

    498

     

     

    $

    398

     

     

     

     

     

     

     

     

     

     

    GAAP diluted earnings per share

     

    $

    2.80

     

     

    $

    2.54

     

     

    $

    1.79

     

     

    $

    1.55

     

    Amortization of intangible assets

     

     

    0.11

     

     

     

    0.10

     

     

     

    0.22

     

     

     

    0.20

     

    Stock-based compensation

     

     

    0.85

     

     

     

    0.72

     

     

     

    1.60

     

     

     

    1.39

     

    Legal reserves, occupancy tax and other

     

     

    0.16

     

     

     

    —

     

     

     

    0.30

     

     

     

    0.04

     

    Restructuring and related reorganization charges

     

     

    0.08

     

     

     

    —

     

     

     

    0.43

     

     

     

    —

     

    Unrealized (gain) loss on revenue hedges

     

     

    (0.01

    )

     

     

    0.11

     

     

     

    (0.02

    )

     

     

    0.11

     

    Gain on minority equity investments, net

     

     

    (0.42

    )

     

     

    (0.36

    )

     

     

    (0.35

    )

     

     

    (0.36

    )

    TripAdvisor tax indemnification adjustment

     

     

    (0.05

    )

     

     

    0.02

     

     

     

    (0.05

    )

     

     

    (0.44

    )

    Gain on sale of businesses

     

     

    —

     

     

     

    (0.03

    )

     

     

    (0.03

    )

     

     

    (0.16

    )

    Income tax effects and adjustments

     

     

    (0.09

    )

     

     

    (0.27

    )

     

     

    (0.29

    )

     

     

    0.30

     

    Non-controlling interest

     

     

    (0.01

    )

     

     

    (0.01

    )

     

     

    (0.01

    )

     

     

    (0.01

    )

    Adjustment to GAAP dilutive securities (1)

     

     

    0.08

     

     

     

    0.07

     

     

     

    0.05

     

     

     

    0.04

     

    Adjusted earnings per share(2)

     

    $

    3.51

     

     

    $

    2.89

     

     

    $

    3.66

     

     

    $

    2.64

     

     

     

     

     

     

     

     

     

     

    GAAP diluted weighted average shares outstanding (000's)

     

     

    137,832

     

     

     

    151,844

     

     

     

    140,131

     

     

     

    154,425

     

    Adjustment to dilutive securities (000's)(1)

     

     

    (3,921

    )

     

     

    (3,921

    )

     

     

    (3,921

    )

     

     

    (3,921

    )

    Adjusted weighted average shares outstanding (000's) (2)

     

     

    133,910

     

     

     

    147,923

     

     

     

    136,209

     

     

     

    150,504

     

     

     

     

     

     

     

     

     

     

    Ex-trivago Adjusted Net Income and Adjusted EPS

     

     

     

     

     

     

     

     

    Adjusted net income attributable to Expedia Group, Inc.

     

    $

    469

     

     

    $

    428

     

     

    $

    498

     

     

    $

    398

     

    Less: Adjusted net income (loss) attributable to trivago

     

     

    7

     

     

     

    7

     

     

     

    (1

    )

     

     

    16

     

    Adjusted net income excluding trivago

     

    $

    462

     

     

    $

    421

     

     

    $

    499

     

     

    $

    382

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Adjusted earnings per share

     

    $

    3.51

     

     

    $

    2.89

     

     

    $

    3.66

     

     

    $

    2.64

     

    Less: Adjusted earnings (loss) per share attributable to trivago

     

     

    0.05

     

     

     

    0.05

     

     

     

    (0.01

    )

     

     

    0.11

     

    Adjusted earnings per share excluding trivago(2)

     

    $

    3.46

     

     

    $

    2.84

     

     

    $

    3.67

     

     

    $

    2.53

     

     

    (1) In periods for which we have Adjusted net income, the GAAP diluted average shares and diluted earnings (loss) per share is presented adjusted for our convertible debt instruments per the treasury stock method.

    (2) Share and per share numbers may not add due to rounding.

    Free Cash Flow

     

     

    Three months ended

    June 30,

     

    Six months ended

    June 30,

     

     

     

    2024

     

     

     

    2023

     

     

     

    2024

     

     

     

    2023

     

     

     

    (In millions)

    Net cash provided by operating activities

     

    $

    1,501

     

     

    $

    1,146

     

     

    $

    4,380

     

     

    $

    4,303

     

    Less: Total capital expenditures

     

     

    (194

    )

     

     

    (223

    )

     

     

    (371

    )

     

     

    (456

    )

    Free cash flow

     

    $

    1,307

     

     

    $

    923

     

     

    $

    4,009

     

     

    $

    3,847

     

    Adjusted Expenses (Cost of revenue, direct and indirect selling and marketing, technology and content and general and administrative expenses)

     

     

    Three months ended

    June 30,

     

    Six months ended

    June 30,

     

     

     

    2024

     

     

    2023

     

     

    2024

     

     

    2023

     

     

    (In millions)

    Cost of revenue

     

    $

    362

     

    $

    407

     

    $

    720

     

    $

    821

    Less: stock-based compensation

     

     

    4

     

     

    4

     

     

    6

     

     

    7

    Adjusted cost of revenue

     

    $

    358

     

    $

    403

     

    $

    714

     

    $

    814

    Less: trivago cost of revenue(1)

     

     

    4

     

     

    4

     

     

    8

     

     

    9

    Adjusted cost of revenue excluding trivago

     

    $

    354

     

    $

    399

     

    $

    706

     

    $

    805

     

     

     

     

     

     

     

     

     

    Selling and marketing - direct

     

    $

    1,793

     

    $

    1,579

     

    $

    3,443

     

    $

    3,066

    Less: trivago selling and marketing - direct(2)

     

     

    54

     

     

    42

     

     

    107

     

     

    70

    Adjusted selling and marketing excluding trivago - direct

     

    $

    1,739

     

    $

    1,537

     

    $

    3,336

     

    $

    2,996

     

     

     

     

     

     

     

     

     

    Selling and marketing - indirect

     

    $

    197

     

    $

    191

     

     

    383

     

     

    378

    Less: stock-based compensation

     

     

    23

     

     

    20

     

     

    42

     

     

    40

    Adjusted selling and marketing - indirect

     

    $

    174

     

    $

    171

     

    $

    341

     

    $

    338

    Less: trivago selling and marketing - indirect(1)

     

     

    2

     

     

    2

     

     

    5

     

     

    5

    Adjusted selling and marketing excluding trivago - indirect

     

    $

    172

     

    $

    169

     

    $

    336

     

    $

    333

     

     

     

     

     

     

     

     

     

    Technology and content

     

    $

    331

     

    $

    344

     

    $

    672

     

    $

    661

    Less: stock-based compensation

     

     

    40

     

     

    36

     

     

    80

     

     

    70

    Adjusted technology and content

     

    $

    291

     

    $

    308

     

    $

    592

     

    $

    591

    Less: trivago technology and content(1)

     

     

    12

     

     

    12

     

     

    24

     

     

    23

    Adjusted technology and content excluding trivago

     

    $

    279

     

    $

    296

     

    $

    568

     

    $

    568

     

     

     

     

     

     

     

     

     

    General and administrative

     

    $

    180

     

    $

    194

     

    $

    366

     

    $

    378

    Less: stock-based compensation

     

     

    39

     

     

    46

     

     

    82

     

     

    92

    Adjusted general and administrative

     

    $

    141

     

    $

    148

     

    $

    284

     

    $

    286

    Less: trivago general and administrative(1)

     

     

    9

     

     

    9

     

     

    17

     

     

    17

    Adjusted general and administrative excluding trivago

     

    $

    132

     

    $

    139

     

    $

    267

     

    $

    269

     

     

     

     

     

     

     

     

     

    Total adjusted overhead expenses(3)

     

    $

    606

     

    $

    627

     

    $

    1,217

     

    $

    1,215

     

    Note: Some numbers may not add due to rounding.

    (1) trivago amount presented without stock-based compensation as those are included with the consolidated totals above.

    (2) Selling and marketing expense adjusted to add back B2C direct marketing spend on trivago eliminated in consolidation.

    (3) Total adjusted overhead expenses is the sum of adjusted expenses for Selling and marketing - indirect, Technology and content, and General and administrative.

    Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995

    This release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. These forward-looking statements are based on assumptions that are inherently subject to uncertainties, risks and changes in circumstances that are difficult to predict. The use of words such as "believe," "estimate," "expect" and "will," or the negative of these terms or other similar expressions, among others, generally identify forward-looking statements. However, these words are not the exclusive means of identifying such statements. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements and may include statements relating to future revenues, expenses, margins, profitability, net income (loss), earnings per share and other measures of results of operations and the prospects for future growth of Expedia Group, Inc.'s business. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of future performance. The potential risks and uncertainties that could cause actual results to differ from the results predicted include, among others, those described in the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of our most recently filed periodic reports on Form 10-K and Form 10-Q, which are available on our investor relations website at ir.expediagroup.com and on the SEC website at www.sec.gov. All information provided in this release is as of August 8, 2024. Undue reliance should not be placed on forward-looking statements in this release, which are based on information available to us on the date hereof. We undertake no duty to update this information unless required by law.

    View source version on businesswire.com: https://www.businesswire.com/news/home/20240808773380/en/

    Get the next $EXPE alert in real time by email

    Chat with this insight

    Save time and jump to the most important pieces.

    Recent Analyst Ratings for
    $EXPE

    DatePrice TargetRatingAnalyst
    5/9/2025$135.00Neutral → Underweight
    Piper Sandler
    2/7/2025$215.00Hold → Buy
    HSBC Securities
    1/6/2025$220.00Hold → Buy
    Melius
    12/18/2024$187.00 → $221.00Neutral → Buy
    BofA Securities
    11/27/2024$225.00Outperform
    Robert W. Baird
    11/8/2024Buy → Hold
    Deutsche Bank
    9/25/2024$130.00 → $150.00Buy → Hold
    TD Cowen
    9/6/2024$148.00Hold
    Truist
    More analyst ratings

    $EXPE
    SEC Filings

    See more
    • Expedia Group Inc. filed SEC Form 8-K: Results of Operations and Financial Condition, Other Events, Financial Statements and Exhibits

      8-K - Expedia Group, Inc. (0001324424) (Filer)

      5/8/25 4:01:57 PM ET
      $EXPE
      Transportation Services
      Consumer Discretionary
    • SEC Form DEFA14A filed by Expedia Group Inc.

      DEFA14A - Expedia Group, Inc. (0001324424) (Filer)

      4/21/25 4:49:15 PM ET
      $EXPE
      Transportation Services
      Consumer Discretionary
    • SEC Form DEF 14A filed by Expedia Group Inc.

      DEF 14A - Expedia Group, Inc. (0001324424) (Filer)

      4/21/25 4:48:36 PM ET
      $EXPE
      Transportation Services
      Consumer Discretionary

    $EXPE
    Financials

    Live finance-specific insights

    See more
    • Expedia Group Reports First Quarter 2025 Results

      Meets top-line guidance, delivering 4% bookings growth and 3% revenue growth year-over-year Beats guidance on bottom line with EBITDA margin expansion Repurchases $330 million of shares in the first quarter Expedia Group, Inc. (NASDAQ:EXPE) announced financial results today for the first quarter ended March 31, 2025. First Quarter Highlights Booked room nights grew 6% in the first quarter year-over-year amid softened travel demand within and into the U.S. Total gross bookings grew 4% in the first quarter. B2C gross bookings grew 1% and B2B gross bookings grew 14% given the segment's greater international exposure. Lodging gross bookings grew 5% year-over-year in the first quarter;

      5/8/25 4:01:00 PM ET
      $EXPE
      Transportation Services
      Consumer Discretionary
    • Expedia Group to Webcast First Quarter 2025 Results on May 8, 2025

      Expedia Group (NASDAQ:EXPE) will report its first quarter 2025 results for the period ended March 31, 2025, on Thursday, May 8, 2025 via an earnings release and accompanying webcast. These items will be available in the Investor Relations section of the company's corporate website at http://ir.expediagroup.com. The earnings release will post after market close and the webcast will begin at 1:30 PM Pacific Time / 4:30 PM Eastern Time. A replay of the call is expected to be available for approximately twelve months. About Expedia Group Expedia Group, Inc. brands power travel for everyone, everywhere through our global platform. Driven by the core belief that travel is a force for good, we h

      4/2/25 4:01:00 PM ET
      $EXPE
      Transportation Services
      Consumer Discretionary
    • Expedia Group Reports Fourth Quarter and Full Year 2024 Results

      Double-digit room nights, gross bookings, and revenue growth in the fourth quarter Both B2C and B2B bookings growth accelerated 5 pts sequentially in the fourth quarter Reinstates quarterly dividend Expedia Group, Inc. (NASDAQ:EXPE) announced financial results today for the fourth quarter and full year ended December 31, 2024. Key Highlights Booked room nights grew 12% in the fourth quarter year-over-year and 9% for full year 2024. Total gross bookings and revenue grew 13% and 10% year-over-year, respectively in the fourth quarter. Full year gross bookings and revenue both grew 7% compared to 2023. B2C and B2B gross bookings growth accelerated 5-points to 9% and 24% respect

      2/6/25 4:01:00 PM ET
      $EXPE
      Transportation Services
      Consumer Discretionary

    $EXPE
    Large Ownership Changes

    This live feed shows all institutional transactions in real time.

    See more
    • SEC Form SC 13G/A filed by Expedia Group Inc. (Amendment)

      SC 13G/A - Expedia Group, Inc. (0001324424) (Subject)

      2/14/23 7:06:48 AM ET
      $EXPE
      Transportation Services
      Consumer Discretionary
    • SEC Form SC 13D/A filed by Expedia Group Inc. (Amendment)

      SC 13D/A - Expedia Group, Inc. (0001324424) (Subject)

      5/12/22 4:32:17 PM ET
      $EXPE
      Transportation Services
      Consumer Discretionary
    • SEC Form SC 13G/A filed by Expedia Group Inc. (Amendment)

      SC 13G/A - Expedia Group, Inc. (0001324424) (Subject)

      2/14/22 4:26:20 PM ET
      $EXPE
      Transportation Services
      Consumer Discretionary

    $EXPE
    Leadership Updates

    Live Leadership Updates

    See more
    • Fortive Appoints Mark Okerstrom Chief Financial Officer

      Fortive Corporation ("Fortive") (NYSE:FTV) today announced that Mark Okerstrom has been appointed Chief Financial Officer, effective March 24, 2025. Mr. Okerstrom will succeed Chuck E. McLaughlin who, as previously announced, will be retiring from his role as CFO on March 24, 2025 but will continue to serve in a non-executive officer role through the end of the year to assist with the transition and ensure continuity. Mr. Okerstrom is an accomplished executive with a strong track record of shareholder value creation as a public company CFO, with demonstrated experience in accelerating profitable organic growth and deep expertise in disciplined capital allocation and bolt-on M&A strategies.

      3/4/25 4:15:00 PM ET
      $EXPE
      $FTV
      $TRVG
      Transportation Services
      Consumer Discretionary
      Industrial Machinery/Components
      Industrials
    • Expedia Group Names Scott Schenkel as Chief Financial Officer

      Expedia Group (NASDAQ:EXPE) announced today that Scott Schenkel has been appointed as Expedia Group's Chief Financial Officer, effective the day after Expedia Group files its Annual Report on Form 10-K for the year ended December 31, 2024 (which is expected to be on or about February 7, 2025). As previously announced, Julie Whalen will remain in the CFO role through February to ensure a smooth transition. As CFO, Mr. Schenkel will be responsible for leading Expedia Group's global finance organization and will be based in Seattle, reporting directly to the Company's Chief Executive Officer, Ariane Gorin. Mr. Schenkel has more than 30 years of global business and financial leadership expert

      12/19/24 4:10:00 PM ET
      $EXPE
      Transportation Services
      Consumer Discretionary
    • Shilpa Ranganathan Joins Expedia Group as Chief Product Officer

      Expedia Group (NASDAQ:EXPE) announced the appointment of Shilpa Ranganathan as the company's Chief Product Officer, marking her return to Expedia Group to lead the product and design teams. "We're thrilled to welcome Shilpa back to Expedia Group as Chief Product Officer. She brings extensive experience in building consumer products based on customer needs and leveraging cutting-edge technology. Shilpa's passion for travel and expertise in product development will be invaluable as we continue to create new experiences for our travelers and partners," said Ariane Gorin, Chief Executive Officer, Expedia Group. "I have fond memories of Expedia Group and couldn't be more excited to return to

      12/10/24 11:10:00 AM ET
      $EXPE
      Transportation Services
      Consumer Discretionary

    $EXPE
    Press Releases

    Fastest customizable press release news feed in the world

    See more
    • Expedia Launches Industry-First Feature That Turns Instagram Reels into Bookable Travel Itineraries

      New trip matching tool uses AI to convert social media inspiration into real-world travel plans—all within Instagram SEATTLE, May 9, 2025 /PRNewswire/ -- Expedia® today announced Expedia® Trip Matching, a first-of-its-kind feature that allows travelers to seamlessly build an itinerary based on an Instagram Reel and then book directly on Expedia. Travelers can share any publicly available travel-related Reel—whether from content creators they follow or trending posts—directly with Expedia and receive customized itineraries, destination ideas, and travel tips based on the video. Powered by AI, this new experience transforms inspiration into real-world travel plans, making it easier than ever t

      5/9/25 8:00:00 AM ET
      $EXPE
      Transportation Services
      Consumer Discretionary
    • Expedia Group Reports First Quarter 2025 Results

      Meets top-line guidance, delivering 4% bookings growth and 3% revenue growth year-over-year Beats guidance on bottom line with EBITDA margin expansion Repurchases $330 million of shares in the first quarter Expedia Group, Inc. (NASDAQ:EXPE) announced financial results today for the first quarter ended March 31, 2025. First Quarter Highlights Booked room nights grew 6% in the first quarter year-over-year amid softened travel demand within and into the U.S. Total gross bookings grew 4% in the first quarter. B2C gross bookings grew 1% and B2B gross bookings grew 14% given the segment's greater international exposure. Lodging gross bookings grew 5% year-over-year in the first quarter;

      5/8/25 4:01:00 PM ET
      $EXPE
      Transportation Services
      Consumer Discretionary
    • Expedia Group to Webcast EXPLORE 25 General Opening Session on May 14, 2025

      Expedia Group (NASDAQ:EXPE) will webcast the general opening session of EXPLORE 25, on May 14, 2025, at 8:50 a.m. PT. EXPLORE 25 is Expedia Group's annual partner event where the Company will share new innovations focused on improving the complete travel experience for travelers and partners everywhere. The webcast will be available on the Investor Relations website: ir.expediagroup.com. View source version on businesswire.com: https://www.businesswire.com/news/home/20250507651719/en/ Investor Relations [email protected] Communications [email protected]

      5/7/25 4:01:00 PM ET
      $EXPE
      Transportation Services
      Consumer Discretionary

    $EXPE
    Insider Trading

    Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

    See more
    • Chief Executive Officer Gorin Ariane converted options into 1,529 shares and covered exercise/tax liability with 696 shares, increasing direct ownership by 1% to 72,646 units (SEC Form 4)

      4 - Expedia Group, Inc. (0001324424) (Issuer)

      4/16/25 6:03:36 PM ET
      $EXPE
      Transportation Services
      Consumer Discretionary
    • SEC Form 4 filed by Director Clinton Chelsea

      4 - Expedia Group, Inc. (0001324424) (Issuer)

      4/2/25 5:50:32 PM ET
      $EXPE
      Transportation Services
      Consumer Discretionary
    • SEC Form 4 filed by Director Menendez-Cambo Patricia

      4 - Expedia Group, Inc. (0001324424) (Issuer)

      4/2/25 5:50:36 PM ET
      $EXPE
      Transportation Services
      Consumer Discretionary

    $EXPE
    Analyst Ratings

    Analyst ratings in real time. Analyst ratings have a very high impact on the underlying stock. See them live in this feed.

    See more
    • Expedia Group downgraded by Piper Sandler with a new price target

      Piper Sandler downgraded Expedia Group from Neutral to Underweight and set a new price target of $135.00

      5/9/25 8:41:52 AM ET
      $EXPE
      Transportation Services
      Consumer Discretionary
    • Expedia Group upgraded by HSBC Securities with a new price target

      HSBC Securities upgraded Expedia Group from Hold to Buy and set a new price target of $215.00

      2/7/25 8:38:24 AM ET
      $EXPE
      Transportation Services
      Consumer Discretionary
    • Expedia Group upgraded by Melius with a new price target

      Melius upgraded Expedia Group from Hold to Buy and set a new price target of $220.00

      1/6/25 8:05:56 AM ET
      $EXPE
      Transportation Services
      Consumer Discretionary