Why Is Expedia Stock Up 24% This Year?

Core Insights - Expedia Group is experiencing growth due to resilient travel demand, with an uplifted full-year guidance expecting 5% gross bookings growth driven by lodging and air business trends [1] - The company forecasts revenues of $13.6 billion for fiscal year 2024, representing a 6% year-over-year increase, with a revised valuation of approximately $185 per share [2] - Year-to-date, Expedia's stock is up about 24%, aligning with the S&P 500, while peer Tripadvisor has seen a decline of 36% [3] Financial Performance - In Q3, Expedia reported revenues of $4.06 billion, a 3% year-over-year increase, with total gross bookings reaching $27.5 billion, up 7% year-over-year [4] - The B2B segment showed strong performance with gross bookings up 19% year-over-year and revenue growth of 18% year-over-year to $1.2 billion [4] - The B2C segment saw gross bookings grow by 3%, but revenues fell slightly to $2.8 billion, despite mid-teens growth in room nights for Brand Expedia [4] Key Metrics - Lodging gross bookings reached $20 billion, an 8% increase, with hotel bookings climbing 10% [4] - Financial highlights include a 61% increase in net income and a 76% year-over-year growth in diluted EPS to $5.04 [4] - The company is undergoing a CFO transition, with Julie Whalen stepping down from her role and board position [4]