Expedia Group said revenue for the nine-month and three-month periods ended September 30, 2024 rose 3% and 6% year over year, respectively, with strong growth in lodging revenue in the B2B segment. Lodging revenue rose 3% and 6%, while advertising and media revenue increased 12% and 16%.

1. 01

   Expedia Group said revenue for the nine-month and three-month periods ended September 30, 2024 rose 3% and 6% year over year, respectively, with strong growth in lodging revenue in the B2B segment. Lodging revenue rose 3% and 6%, while advertising and media revenue increased 12% and 16%.

2. 02

   The company said selling and marketing - direct expense rose $184 million in the 3-month period and $561 million in the 9-month period, citing higher B2B partner commissions as the main factor. The increase in general and administrative expense included about $51 million in accelerated stock-compensation expense related to the departure of the Vice Chairman.

3. 03

   Expedia Group said it recorded an Italian VAT settlement reserve charge of $92 million in the three months ended 2024 3 months. It said its reserve for hotel occupancy and other taxes was reduced by a net $33 million due to the favorable resolution of a tax-related case. Restructuring and related reorganization charges were $6 million in the 3-month period and $72 million in the 9-month period.

4. 04

   Expedia Group said cash, cash equivalents and short-term investments totaled $4.9 billion as of September 30, 2024, and its $2.5 billion revolving credit facility was virtually undrawn. Over 9 months, it repurchased 11.2 million shares under its 2023 Share Repurchase Program for about $1.5 billion, leaving $3.4 billion available under the authorization.

Key figures

Quarter ended September 30, 2024

Revenue

$4.1B

Operating income

$762M

Net income

$684M

EPS

$5.04

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

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