Companies

Expedia Group Inc

NASDAQ: EXPE
$318.92
▼ $14.02 (−4.21%) today
Markets closed · 9:08pm ET

Q1 2023 Earnings

Reported May 4, 2023, 4:11pm ET · SEC source
$-0.20
Miss −400.00%
EPS · est. $-0.04
$2.7B
Beat +0.23%
Revenue · est. $2.7B
+13.3%
Beating market
EXPE vs S&P since report
7 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
0+4%+8%+12%May 4May 5report 4:11pm ETearnings+1.8%+7.7%
0+4%+8%+12%May 4May 5earnings+1.8%+7.7%
EXPE +7.7%S&P 500 +1.8%
0+4%+8%+12%May 4May 5report 4:11pm ETearnings+2.1%+7.7%
0+4%+8%+12%May 4May 5earnings+2.1%+7.7%
EXPE +7.7%NASDAQ +2.1%
−6%−3%0+3%May 3May 12report 4:11pm ETearnings+1.7%−4.3%
−6%−3%0+3%May 3May 12earnings+1.7%−4.3%
EXPE −4.3%S&P 500 +1.7%
−6%−3%0+3%May 3May 12report 4:11pm ETearnings+2.8%−4.3%
−6%−3%0+3%May 3May 12earnings+2.8%−4.3%
EXPE −4.3%NASDAQ +2.8%
+4.90%
Day of report
−1.13%
Next session
−4.37%
One week
+16.62%
30 days

S&P 500 over the same 30 days: +3.37%.

Did EXPE Beat Earnings? Q1 2023 Results

Expedia Group posted a mixed first quarter, delivering a narrow revenue beat while falling well short of profit expectations as elevated marketing costs weighed on the bottom line. The online travel company reported Q1 2023 revenue of $2.67 billion, up 18.5% year-over-year and just ahead of the $2.66 billion consensus estimate, but adjusted EPS came in at -$0.20, missing the -$0.04 analyst forecast by 400.00% as selling and marketing expenses climbed to $1.67 billion from $1.34 billion a year earlier. The top-line strength was anchored by a 20% surge in total gross bookings to $29.40 billion, with lodging gross bookings reaching $21.05 billion and booked room nights rising 23% to 94.5 million, fueled by accelerating international travel, urban market recovery, and renewed demand from Asia. The company's B2B segment was a clear standout, with revenue jumping 55% to $668.00 million as its partner network expanded. Adjusted EBITDA grew 7% to $185.00 million, though the margin slipped slightly to 6.9%, reflecting the heavier investment in customer acquisition during the quarter.

Key Takeaways
  • Strong travel demand driven by increasing international travel and major city travel
  • Reopening in Asia boosting demand
  • Record lodging gross bookings of $21.1 billion
  • B2B revenue growth of 55% driven by expanding partner base and existing partner growth
  • Continued strength in app usage and loyalty member counts
  • Booked room nights up 23% year-over-year to 94.5 million

“The first quarter saw strong travel demand driven by increasing international travel, major city travel, and the reopening in Asia. We invested into that demand driving record lodging bookings and continued strength in app usage and loyalty member counts. We also saw strong growth in B2B driven by an expanding partner base and growth from our existing partners. Our performance was enhanced by greater testing velocity and accelerating deployment of AI and ML, including our recent integration of ChatGPT into our iOS experience.”

Expedia CEO, on the earnings call

EXPE YoY Financials

Q1 2023 vs Q1 2022 · SEC filings Q1 2022 Q1 2023
$0$800.0M$1.6B$2.4B$2.2B$2.7BRevenue$-109,631,240$-121,000,000Operating Income$-178,681,454$-145,000,000Net Income
$0$800.0M$1.6B$2.4BRevenueOperating IncomeNet Income

EXPE Revenue by Segment

Lodging$2.0B
B2C$1.9B
B2B$668.0M+55.0%
Advertising and Media - EG$175.0M
trivago$76.0M
Air$113.0M
Advertising and Media - trivago

EXPE Revenue by Geography

United States$1.7B
Rest of World$917.0M

Figures from SEC filings and company reports. Not investment advice.