Expedia Group reports total gross bookings $28.8bn for 2nd Quarter 2024

“Our second quarter results came in at the high end of our expectations, with gross bookings and revenue growing 6%. We’re pleased with our momentum and the sequential improvement in our consumer brands. However, in July, we have seen a more challenging macro environment and a softening in travel demand. We are therefore adjusting our expectations for the rest of the year,” said Ariane Gorin, CEO of Expedia Group.

Second Quarter Highlights

• Total gross bookings were $28.8 billion, an increase of 6% compared to 2023.
• Lodging gross bookings were $20.7 billion, an increase of 8% compared to 2023. Hotel bookings were up 11% compared to 2023.
• Room nights growth accelerated to +10% with Brand Expedia at nearly 20% growth. Total room nights grew at the fastest rate since the first quarter of 2023.
• Revenue at $3.6 billion grew 6% compared to 2023. B2B revenue was $1.0 billion, an increase of 22% compared to 2023.
• Net income was $386 million and adjusted net income was $469 million. Adjusted EBITDA was $786 million, an increase of 5% with 15 basis points of margin contraction compared to 2023. Adjusted EBIT was $475 million, an increase of 8% with 21 bps of margin expansion compared to 2023.
• Repurchased approximately 9.2 million shares for $1.2 billion year-to-date.

Financial Summary & Operating Metrics (In millions except per share amounts)