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Mar 31, 2024
Expedia Q1 2024 Earnings Report
Expedia Group's Q1 2024 results were announced, demonstrating revenue growth and profitability, although Vrbo's recovery impacted gross bookings.
Key Takeaways
Expedia Group reported strong first-quarter revenue and profitability, with revenue growing 8% year-over-year. However, gross bookings were slightly below expectations due to a slower-than-anticipated recovery from Vrbo's re-platforming.
Total gross bookings increased by 3% to $30.2 billion.
Revenue grew by 8% to $2.9 billion.
Adjusted EBITDA increased by 38% with 191 basis points of margin expansion.
Net loss was $135 million, while adjusted net income was $29 million.
Expedia
Expedia
Expedia Revenue by Segment
Expedia Revenue by Geographic Location
Revenue by Segment
B2C Revenue
CapyFin.comB2B Revenue
CapyFin.comOther Revenue
CapyFin.comRevenue by Geographic Location
U.S. points of sale Revenue
CapyFin.comNon-U.S. points of sale Revenue
CapyFin.com Forward Guidance
Expedia Group lowered its full-year guidance to a range of mid- to high-single-digit top-line growth, with margins relatively in line with last year, due to Vrbo's slower-than-expected recovery.
Positive Outlook
- Continued momentum in B2B.
- Brand Expedia is showing positive trends.
- Advertising revenue is growing.
- Acceleration expected in the rest of the B2C business throughout the year.
- Platform underpinning is in place to drive stronger growth.
Challenges Ahead
- Vrbo's recovery following the recent re-platforming has been slower than anticipated.
- This has put pressure on gross bookings.
- Lowered full-year guidance.
- Margins expected to be relatively in line versus last year.
- Slower-than-expected acceleration in B2C.
Revenue & Expenses
Visualization of income flow from segment revenue to net income