Expedia Q2 Earnings Beat Estimates with EPS $3.51, Revenue $3.56B Amid Softening Travel Demand

Aug 8, 2024, 08:14 PM

Expedia Group reported its second-quarter earnings, surpassing analyst expectations with an earnings per share (EPS) of $3.51 compared to the estimated $3.06, and revenue of $3.56 billion against the expected $3.53 billion. The company's total gross bookings were $28.8 billion, marking a 6% increase from the previous year. B2B revenue also saw a significant rise, increasing by 22% to $1.0 billion. Net income was reported at $386 million, and adjusted EBITDA reached $786 million. Despite these positive results, Expedia warned of a softening travel demand in the current quarter and a challenging macroeconomic environment, leading the company to adjust its expectations for the remainder of the year. CEO Ariane Gorin highlighted these concerns, noting the need to recalibrate forecasts due to evolving market conditions.