Expedia Group said revenue rose 10% in 2023 compared with 2022, driven by strong growth in the B2B segment on higher lodging revenue. The company said lodging revenue increased 15%, citing mainly an increase in room nights stayed, largely in its hotel business.

1. 01

   Expedia Group said revenue rose 10% in 2023 compared with 2022, driven by strong growth in the B2B segment on higher lodging revenue. The company said lodging revenue increased 15%, citing mainly an increase in room nights stayed, largely in its hotel business.

2. 02

   The company said it recognized a goodwill impairment charge of $297 million for its trivago segment in 2023, along with intangible impairment charges of $129 million related to indefinite-lived trade names in its B2C and trivago segments. It cited these impairment charges as the main factor in the decrease in operating income in 2023.

3. 03

   The company said net cash provided by operating activities fell by $750 million in 2023, mainly due to a smaller working capital benefit from changes in deferred merchant bookings. Net cash used in investing activities was $800 million, and financing activities included share repurchases of $2.1 billion.

4. 04

   The company said its cash and cash equivalents and short-term investments totaled $4.3 billion as of December 31, 2023, and its $2.5 billion revolving credit facility was essentially untapped. It said $4.8 billion remained available under the $5 billion authorization for its 2023 Share Repurchase Program.

Key figures

Fiscal year ended December 31, 2023

Revenue

$12.8B

Operating income

$1.0B

Net income

$797M

EPS

$5.31

Operating cash flow

$2.7B

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.