Shares of travel bookings platform Expedia Group (EXPE -18.85%) dropped on Friday after the company reported financial results for the fourth quarter of 2023. In reality, the numbers were pretty good, but a surprise change of CEO cast a shadow over the financial results. As of 11:30 a.m. ET, Expedia stock was down 19%.Expedia's record yearExpedia generates revenue in several ways, including processing travel bookings, earning commissions, and advertising. In 2023, the company generated record revenue of $12 ...

Expedia (NASDAQ:EXPE) stock plunged 15% after disappointing bookings numbers and the departure of CEO Peter Kern.The travel site earned $132 million, 92 cents per share fully diluted, on revenue of $2.89 billion during the quarter. This compared with net income of $177 million, $1.11 per share, and revenue of $2.61 billion a year earlier.However, the departure of Kern, who had been CEO for four years, spooked investors the most. Expedia was due to open this morning at about $134 per share, a market capitali ...

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Key TakeawaysExpedia shares tumbled despite topping quarterly earnings and sales expectations as bookings came in worse than expected and the company announced the appointment of a new CEO.Incoming CEO Ariane Gorin has most recently served as president of the company’s B2B arm—Expedia for Business.The Expedia share price is likely to find key support around $133 from a multi-month horizontal trendline and the 200-day moving average. Expedia Group, Inc. Source: TradingView.com.Expedia late Thursday (EXPE) ...

Expedia Group CEO Peter Kern said Thursday (Feb. 8) that he will step down in May after four years in that role, having led the company as it rationalized its operations and optimized its IT footprint.Kern and Expedia announced this move on the same day the global travel platform announced its fourth quarter and full year 2023 results.“When this started, the idea was for me to come in for a period of time and sort of right the ship, put us where we want it to be, and then build the team and make sure we hav ...

Core Insights - Expedia reported revenue of $2.89 billion for the quarter ended December 2023, reflecting a year-over-year increase of 10.3% [1] - The earnings per share (EPS) for the quarter was $1.72, up from $1.26 in the same quarter last year [1] - The reported revenue slightly exceeded the Zacks Consensus Estimate of $2.88 billion, resulting in a revenue surprise of +0.22% [1] - The EPS also surpassed the consensus estimate of $1.67, with a surprise of +2.99% [1] Financial Performance Metrics - Total gross bookings were reported at $21.67 billion, slightly below the estimated $21.89 billion [3] - Merchant gross bookings amounted to $12.23 billion, compared to the estimate of $12.27 billion [3] - Agency gross bookings were $9.44 billion, lower than the average estimate of $9.62 billion [3] - Non-U.S. (International) revenue reached $1.10 billion, exceeding the estimate of $1.05 billion, with a year-over-year change of +22.1% [3] - U.S. (Domestic) revenue was reported at $1.79 billion, slightly below the estimate of $1.84 billion, with a year-over-year change of +4.1% [3] - B2C revenue was $1.96 billion, compared to the estimate of $2.02 billion, reflecting a year-over-year change of +4.5% [3] - B2B revenue was $864 million, surpassing the estimate of $790.92 million, with a year-over-year change of +27.8% [3] - Revenue from Trivago was $65 million, below the estimate of $77.11 million, showing a year-over-year decline of -38.7% [3] - Revenue for Expedia Group (excluding Trivago) was $2.81 billion, with a year-over-year increase of +10.7% [3] - Revenue by service type for lodging was $2.30 billion, exceeding the estimate of $2.28 billion, with a year-over-year change of +14.4% [3] - Air revenue was reported at $86 million, below the estimate of $103.23 million, reflecting a year-over-year decline of -7.5% [3] - Advertising and media revenue was $205 million, slightly below the estimate of $213.17 million, with a year-over-year change of +16.5% [3] Stock Performance - Over the past month, Expedia shares have returned +1.7%, compared to the Zacks S&P 500 composite's +6.5% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3]

Expedia Group, Inc. (NASDAQ:EXPE) Q4 2023 Earnings Conference Call February 8, 2024 4:30 PM ET Company Participants Harshit Vaish - SVP-Corporate Development, Strategy and Investor Relations Peter Kern - Vice Chairman and Chief Executive Officer Julie Whalen - Chief Financial Officer Conference Call Participants Naved Khan - B. Riley Kevin Kopelman - Cowen Eric Sheridan - Golden Sachs Lee Horowitz - Deutsche Bank Anthony Post - Bank of America Jed Kelly - Oppenheimer Mark Mahaney - Evercore ISI Operator Goo ...

Expedia (EXPE) came out with quarterly earnings of $1.72 per share, beating the Zacks Consensus Estimate of $1.67 per share. This compares to earnings of $1.26 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 2.99%. A quarter ago, it was expected that this online travel company would post earnings of $5.15 per share when it actually produced earnings of $5.41, delivering a surprise of 5.05%.Over the last four quarters, the comp ...

Expedia Group Inc. shares fell 12% in the extended session Thursday, as investors appeared nervous by a CEO change and looked past a quarterly beat for the online travel company. Expedia EXPE, +3.30% earned $132 million, or 92 cents a share, in the fourth quarter, compared with $177 million, or $1.11 a share, in the year-ago period. Adjusted for one-time items, the company earned $1.72 a share. Revenue rose 10% to $2.89 billion. Analysts polled by FactSet expected adjusted EPS of $1.67 on revenue of $2.87 b ...

SEATTLE--(BUSINESS WIRE)--Expedia Group today announced the appointment of Ariane Gorin as Expedia Group’s CEO, effective as of May 13, 2024. Ms. Gorin will succeed Peter Kern, who has served as the Company’s CEO since 2020. After completing his contract as CEO, Mr. Kern will continue to serve as the Company’s Vice Chairman and member of the Board of Directors, working closely with Ms. Gorin to ensure a smooth transition. Ms. Gorin has also been elected to serve on the Company’s Board of Directors. Ms. Gor ...