Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-37429 EXPEDIA GROUP, INC. (Exact name of registrant as specified in its charter) Delaware 20-2705720 (State or other ...

Revenue and Bookings Growth - Booked room nights grew 9% year-over-year to 97.4 million in Q3 2024, with Brand Expedia growing at mid-teens[2][6] - Total gross bookings increased 7% year-over-year to $27.5 billion in Q3 2024, a 150 basis point acceleration from Q2 2024[2][6] - B2B gross bookings grew 19% year-over-year, while B2C gross bookings increased 3% year-over-year in Q3 2024[2] - Lodging gross bookings rose 8% year-over-year to $20.0 billion in Q3 2024, with hotel bookings up 10%[2] - Revenue increased 3% year-over-year to $4.1 billion in Q3 2024, despite a 2-point negative impact from FX[2][6] - B2B revenue grew 18% year-over-year to $1.2 billion in Q3 2024[2] - Revenue for Q3 2024 increased to $4,060 million, up 3.3% from $3,929 million in Q3 2023[16] - Units sold increased to 101.2 million in Q1 2024, up from 94.5 million in Q1 2023, representing a 7.1% growth[14] - Gross bookings for the Merchant business model reached $16.863 billion in Q1 2024, a 5.6% increase from $15.976 billion in Q1 2023[14] - Lodging gross bookings grew to $21.903 billion in Q1 2024, up 4.0% from $21.055 billion in Q1 2023[14] - B2C revenue rose to $1.986 billion in Q1 2024, a 3.4% increase from $1.921 billion in Q1 2023[14] - Total revenue for Q1 2024 was $2.889 billion, an 8.4% increase from $2.665 billion in Q1 2023[14] - Lodging revenue increased to $2.228 billion in Q1 2024, up 9.8% from $2.029 billion in Q1 2023[14] - U.S. points of sale revenue reached $1.793 billion in Q1 2024, a 2.6% increase from $1.748 billion in Q1 2023[14] - Non-U.S. points of sale revenue grew to $1.096 billion in Q1 2024, up 19.5% from $917 million in Q1 2023[14] Profitability and Earnings - Net income attributable to Expedia Group increased 61% year-over-year to $684 million in Q3 2024[6] - Diluted earnings per share rose 76% year-over-year to $5.04 in Q3 2024[6] - Net income for Q3 2024 rose to $684 million, a significant increase from $305 million in Q3 2023[16] - Earnings per share (diluted) for Q3 2024 improved to $5.04, compared to $2.87 in Q3 2023[16] - Net income margin for Q3 2024 was 16.9%, compared to 10.8% in Q3 2023[39] - Adjusted net income attributable to Expedia Group, Inc. for the three months ended September 30, 2024, was $809 million, compared to $778 million in the same period in 2023[40] - Adjusted earnings per share (EPS) for the three months ended September 30, 2024, was $6.13, up from $5.41 in the same period in 2023[40] - Adjusted net income excluding trivago for the three months ended September 30, 2024, was $809 million, compared to $769 million in the same period in 2023[42] - Adjusted EPS excluding trivago for the three months ended September 30, 2024, was $6.13, compared to $5.35 in the same period in 2023[42] - Adjusted net income attributable to Expedia Group, Inc. for the nine months ended September 30, 2024, was $1,307 million, compared to $1,176 million in the same period in 2023[43] - Adjusted EPS for the nine months ended September 30, 2024, was $9.70, up from $7.93 in the same period in 2023[43] - Adjusted net income excluding trivago for the nine months ended September 30, 2024, was $1,308 million, compared to $1,151 million in the same period in 2023[43] - Adjusted EPS excluding trivago for the nine months ended September 30, 2024, was $9.71, compared to $7.76 in the same period in 2023[43] - Net income attributable to Expedia Group, Inc. was $(135) million in Q1 2024, compared to $(145) million in Q1 2023[14] - Net income for the nine months ended September 30, 2024, was $923 million, compared to $552 million for the same period in 2023[18] Share Repurchases and Capital Allocation - Expedia Group repurchased 12.0 million shares for $1.6 billion year-to-date in 2024[2] - Purchases of treasury stock amounted to $1.641 billion for the nine months ended September 30, 2024, compared to $1.669 billion in 2023[18] Financial Position and Liabilities - Total assets as of September 30, 2024, grew to $23,405 million, compared to $22,522 million in September 2023[17] - Cash and cash equivalents stood at $4,722 million as of September 30, 2024, up from $5,056 million in September 2023[17] - Accounts receivable increased to $3,764 million in September 2024, up from $2,753 million in September 2023[17] - Long-term debt decreased to $5,221 million as of September 30, 2024, from $6,250 million in September 2023[17] - Total current liabilities increased to $14,787 million as of September 30, 2024, from $12,560 million in September 2023[17] - Deferred merchant bookings rose to $9,413 million in September 2024, up from $8,394 million in September 2023[17] - Long-term debt, including current maturities, stood at $6,263 million, with a leverage ratio of 2.2[39] - Cash, cash equivalents, and restricted cash at the end of the period were $6.046 billion, down from $6.492 billion in 2023[18] Cash Flow and Capital Expenditures - Net cash provided by operating activities for the nine months ended September 30, 2024, was $2.887 billion, slightly down from $2.928 billion in 2023[18] - Capital expenditures, including internal-use software and website development, were $565 million for the nine months ended September 30, 2024, compared to $669 million in 2023[18] - Free cash flow for the nine months ended September 30, 2024, was $2,322 million, compared to $2,259 million in the same period in 2023[44] - Total capital expenditures for the nine months ended September 30, 2024, were $565 million, compared to $669 million in the same period in 2023[44] Adjusted Financial Metrics - Adjusted EBITDA is a key non-GAAP measure used by Expedia Group to evaluate performance, excluding items like stock-based compensation and acquisition-related impacts[26] - Adjusted EBIT is another non-GAAP measure that excludes unpredictable items and allows for a more comprehensive comparison of performance[28] - Adjusted Net Income (Loss) captures normal operational items and excludes certain expenses not tied to core operations, providing a clearer picture of financial health[30] - Adjusted Net Income for 2023 and 2024 is computed using a 21.5% effective tax rate[32] - Adjusted EPS is calculated by dividing Adjusted Net Income by adjusted weighted average shares outstanding, considering dilution from convertible debt instruments[32] - Free Cash Flow is defined as net cash flow from operating activities less capital expenditures, representing operating cash flow before non-core cash movements[33] - Adjusted Expenses exclude stock-based compensation, which is considered non-cash and not reflective of ongoing cash operating expenses[34] - Expedia Group reports results both in total and excluding trivago to provide transparency on the transaction-based component of the business[35] - Adjusted EBITDA for Q3 2024 was $1,250 million, with B2C contributing $1,028 million and B2B contributing $338 million[36] - Adjusted EBITDA for Q3 2023 was $1,216 million, with B2C contributing $1,056 million and B2B contributing $266 million[37] - Adjusted EBITDA margin for Q3 2024 was 30.8%, slightly lower than 30.9% in Q3 2023[39] - Adjusted EBITDA for B2C segment was $215 million in Q1 2024, a 45.3% increase from $148 million in Q1 2023[14] - Adjusted cost of revenue for the three months ended September 2024 was $385 million, compared to $409 million in the same period in 2023[46] - Adjusted selling and marketing expenses excluding trivago for the three months ended September 2024 were $1.793 billion, up from $1.600 billion in 2023[46] - Adjusted technology and content expenses excluding trivago for the three months ended September 2024 were $269 million, down from $294 million in 2023[46] - Adjusted general and administrative expenses excluding trivago for the three months ended September 2024 were $138 million, down from $140 million in 2023[46] - Total adjusted overhead expenses for the three months ended September 2024 were $602 million, compared to $617 million in 2023[46] - Adjusted cost of revenue for the nine months ended September 2024 was $1.099 billion, compared to $1.223 billion in the same period in 2023[46] - Adjusted selling and marketing expenses excluding trivago for the nine months ended September 2024 were $5.129 billion, up from $4.596 billion in 2023[46] - Adjusted technology and content expenses excluding trivago for the nine months ended September 2024 were $837 million, down from $862 million in 2023[46] - Adjusted general and administrative expenses excluding trivago for the nine months ended September 2024 were $405 million, down from $409 million in 2023[46] - Total adjusted overhead expenses for the nine months ended September 2024 were $1.819 billion, compared to $1.832 billion in 2023[46] Guidance and Future Outlook - Expedia Group raised its full-year guidance following strong Q3 2024 results[1]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-37429 EXPEDIA GROUP, INC. (Exact name of registrant as specified in its charter) For the quarterly period ended June 30, 2024 (State or other jurisdiction of incorporati ...

Financial Performance - Gross bookings for Q2 2024 reached $28.8 billion, a 6% increase compared to Q2 2023[7] - Revenue for Q2 2024 was $3.6 billion, up 6% from $3.4 billion in Q2 2023[5] - Adjusted EBITDA increased by 5% to $786 million, with a margin contraction of 15 basis points compared to the previous year[7] - Net income attributable to Expedia Group, Inc. was $386 million, with adjusted net income at $469 million, a 10% increase year-over-year[7] - Free cash flow for the quarter was $1.3 billion, representing a 42% increase compared to the same period last year[7] - B2B revenue reached $1.0 billion, marking a 22% increase compared to Q2 2023[7] - Revenue for the three months ended June 30, 2024, increased to $3,558 million, up 6% from $3,358 million in the same period of 2023[18] - Operating income for the six months ended June 30, 2024, was $341 million, compared to $322 million for the same period in 2023, reflecting a 5.9% increase[18] - Net income attributable to Expedia Group, Inc. for the three months ended June 30, 2024, was $386 million, slightly up from $385 million in 2023[18] - Basic earnings per share for the three months ended June 30, 2024, was $2.92, compared to $2.62 in the same period of 2023, representing an increase of 11.5%[18] Cash Flow and Assets - Cash and cash equivalents as of June 30, 2024, totaled $6,242 million, an increase from $4,225 million as of December 31, 2023[19] - Total current assets increased to $13,515 million as of June 30, 2024, compared to $9,230 million at the end of 2023, marking a 46.5% increase[19] - Net cash provided by operating activities for the six months ended June 30, 2024, was $4,380 million, up from $4,303 million in the same period of 2023[21] - Total assets as of June 30, 2024, were $25,893 million, compared to $21,642 million at the end of 2023, reflecting a growth of 19.9%[19] - Total stockholders' equity decreased to $2,126 million as of June 30, 2024, from $2,786 million at the end of 2023, a decline of 23.7%[19] Operational Metrics - Booked room nights totaled 98.9 million, reflecting a 10% year-over-year growth[5] - Lodging gross bookings grew to $20.7 billion, an 8% increase year-over-year, with hotel bookings up 11%[7] - The B2C segment reported an operating income of $654 million for Q2 2024, up from $653 million in Q2 2023, indicating stable performance[43] - The total operating income for the B2B segment in Q2 2024 was $263 million, compared to $206 million in Q2 2023, showing a significant increase of 27.7%[43] Adjusted Metrics - Adjusted EBITDA for the three months ended June 30, 2024, was $786 million, compared to $747 million for the same period in 2023, reflecting a year-over-year increase of 5.2%[43] - Adjusted Net Income for the period is calculated using a long-term projected effective tax rate of 21.5% for 2023 and 2024, enhancing consistency across reporting periods[39] - Adjusted EPS is derived from Adjusted Net Income divided by adjusted weighted average shares outstanding, providing a per-share performance metric[39] - Adjusted earnings per share for Q2 2024 were $3.51, compared to $2.89 in Q2 2023, reflecting a 21.4% increase[48] - Adjusted earnings per share excluding trivago for Q2 2024 were $3.46, compared to $2.84 in Q2 2023, representing a 21.9% increase[48] Expenses and Capital Expenditures - Total adjusted overhead expenses for Q2 2024 were $606 million, a decrease from $627 million in Q2 2023, indicating a 3.4% reduction[48] - Selling and marketing expenses (direct) for Q2 2024 were $1,793 million, an increase from $1,579 million in Q2 2023, reflecting a 13.5% rise[48] - Adjusted general and administrative expenses for Q2 2024 were $141 million, slightly down from $148 million in Q2 2023, a decrease of 4.7%[48] - Total capital expenditures for the six months ended June 30, 2024, were $371 million, down from $456 million in the same period of 2023, a decrease of 18.7%[48] Future Outlook - The CEO noted a softening in travel demand in July, leading to an adjustment in expectations for the remainder of the year[3] - The company expects continued growth in revenues and profitability, with a focus on market expansion and new product development[51]

Financial Data and Key Metrics Changes - Total gross bookings reached $30.2 billion, up 3% year-over-year, driven primarily by lodging gross bookings which grew 4% [11] - Revenue increased to $2.9 billion, reflecting an 8% growth compared to last year, supported by higher revenue margins and increased advertising revenue [11][12] - EBITDA for Q1 was $255 million, up 38% year-over-year, with an EBITDA margin of 8.8%, expanding over 190 basis points [14] - Free cash flow for the quarter was $2.7 billion, although year-over-year decline was noted due to timing changes within working capital [16] Business Line Data and Key Metrics Changes - The hotel business saw a significant growth of 12%, while Vrbo continued to experience softness, impacting overall performance [11][12] - B2B business grew by 25%, contributing positively to the overall gross bookings despite challenges in the B2C segment [12][18] - Direct sales and marketing expenses increased by 11% year-over-year, primarily due to commissions paid to B2B partners [12] Market Data and Key Metrics Changes - North America remains the slowest growing geography, but the gap is closing as the market normalizes post-pandemic [7][8] - The company anticipates mid to high single-digit top-line growth for the full year, reflecting a cautious outlook based on current trends [9][18] Company Strategy and Development Direction - The company is focusing on optimizing its consumer business by driving traffic, increasing conversion rates, and expanding margins through efficient marketing [22][24] - Investments will continue in Vrbo and international growth markets to reignite growth trajectories [9][10] - The leadership transition aims to sharpen the long-term strategy for the consumer business while leveraging strengths in B2B and advertising [21][25] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about improving product performance and the potential for future growth despite current challenges [10][18] - The company is committed to long-term transformation and believes that investments made will eventually yield positive results [20][24] - Management acknowledged the slower-than-expected recovery in Vrbo and indicated a need for continued investment to regain momentum [9][30] Other Important Information - The company ended the quarter with strong liquidity of $8.2 billion and a gross leverage ratio of 2.3 times, progressing towards a target of 2 times [16] - Share repurchases totaled over $780 million year-to-date, reflecting confidence in the stock's long-term performance [17] Q&A Session Summary Question: How does the company view Vrbo in the competitive landscape? - Management emphasized a strong core business for Vrbo, focusing on whole home rentals and improving product offerings to regain market share [28][30] Question: Is the cautious outlook for the full year due to Vrbo specifically? - Management clarified that while Vrbo has faced challenges, there are positive trends in the non-Vrbo B2C business, indicating overall share gains in the hotel segment [34][35] Question: What led to the decision to pivot towards pricing investments? - The company identified opportunities for better returns through pricing adjustments rather than increased marketing spend, aiming to drive customer acquisition more efficiently [38][39] Question: What is the current status of the One Key loyalty program? - The One Key program has seen a 40% year-on-year increase in new memberships, with positive cross-shopping results indicating its effectiveness [52] Question: How does the company plan to address the performance of Hotels.com? - Management acknowledged the brand's struggles post-migration but expressed optimism about future growth as international markets are revisited [47][48] Question: What are the expectations for B2B growth in the long term? - While specific projections were not provided, management remains optimistic about the B2B segment's potential due to its diverse partnerships and market opportunities [76]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-37429 EXPEDIA GROUP, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorpo ...

Expedia Group Reports First Quarter 2024 Results Posts strong first quarter revenue and profitability Revenue grew 8% y/y with margin expansion Accelerated level of share repurchases at $786 million year-to-date SEATTLE, WA – May 2, 2024 – Expedia Group, Inc. (NASDAQ: EXPE) announced financial results today for the first quarter ended March 31, 2024. "Our first quarter results met our guidance with a revenue and earnings beat but with less robust gross bookings. We saw continued momentum in B2B, Brand Exped ...

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 ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _______________________________________________ Form 10-K ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-37429 EXPEDIA GROUP, INC. (Exact name of registrant as specified in its chart ...

Expedia Group, Inc. (NASDAQ:EXPE) Q3 2023 Earnings Conference Call November 2, 2023 4:30 PM ET Corporate 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 Eric Sheridan - Goldman Sachs Lee Horowitz - Deutsche Bank Jacob Hendricks - Cowen Naved Khan - B. Riley Securities Jed Kelly - Oppenheimer Chris Roop - Jefferies Justin Post - Bank of America Tom ...