Expedia Group Stock Q1 2024 Financial Report: Revenue Growth

Discover how Expedia Group, Inc. fared in the first quarter of 2024 with its latest financial results. Let’s delve into the highlights of Expedia Group Stock performance, strategic initiatives, and outlook for the future.

Introduction to Expedia Group Stock

Expedia Group, Inc. (NASDAQ: EXPE) is a global travel platform that enables travelers to explore the world. With a portfolio of leading consumer brands, including Expedia, Hotels.com, and Vrbo, Expedia Group is committed to providing travel solutions worldwide.

Key Financial Highlights of Q1

Expedia Group Stock reported robust revenue and profitability for the first quarter of 2024, with an 8% year-over-year revenue increase driven by margin expansion. Key highlights from Q1 include:

Total gross bookings reached $30.2 billion, a 3% increase compared to 2023.
Total accommodation bookings amounted to $21.9 billion, growing by 4% compared to 2023, with hotel bookings increasing by 12%.
Revenue totaled $2.9 billion, marking an 8% increase compared to 2023, with B2B revenue reaching $833 million, a 25% year-over-year increase.
Net loss amounted to $135 million, while adjusted net income reached $29 million. Adjusted EBITDA stood at $255 million, representing a 38% increase, driven by a 191 basis point margin expansion compared to 2023.
Approximately 5.7 million shares were repurchased, totaling approximately $786 million since the beginning of the year.

Strategic Developments and Outlook

While the first quarter results met expectations, there was a slight decrease in order volume. Expedia Group observed continued growth in the B2B sector, brand promotion, and advertising. However, the recovery of Vrbo following platform updates progressed slower than anticipated, impacting overall order volume. Presently, there is a notable acceleration in the rest of Expedia’s B2C business, expected to continue throughout the year. Considering Vrbo’s slowdown and the pace of acceleration in the B2C sector, the company has revised its full-year forecasts to reflect moderate to high-single-digit revenue growth while maintaining profitability compared to the previous year.

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