Expedia Q1 2020 Earnings Report
Key Takeaways
Expedia Group's Q1 2020 results were heavily impacted by the COVID-19 pandemic, with a 39% decrease in gross bookings and a 15% decrease in revenue. The company suffered an operating loss of $1.294 billion and a net loss attributable to Expedia Group of $1.301 billion. However, Expedia Group took actions to reduce costs and secured additional funding to strengthen its liquidity position.
Expedia Group handled 22 million customer contacts over a ten-week period due to COVID-19, more than double the typical average.
Self-service options and automation capabilities were rapidly developed to manage unprecedented cancellation volumes.
The company secured $3.95 billion in additional funding to strengthen its liquidity position.
Expedia Group implemented incremental cost reduction actions, including reduced marketing spend and deferred capital expenditures.
Expedia
Expedia
Expedia Revenue by Segment
Expedia Revenue by Geographic Location
Forward Guidance
Expedia Group did not provide specific financial guidance for future periods due to the uncertainty surrounding the COVID-19 pandemic.
Revenue & Expenses
Visualization of income flow from segment revenue to net income