Expedia lowers 2024 growth forecast

The company cut its full-year revenue growth forecast, as gross bookings were hit by a drag in its vacation rental platform and poor performance in its business-to-consumer segment

Expedia had high hopes for increased profits following the integration of its Vrbo vacation rental brand into the Expedia platform, which allows travelers to book across all Expedia brands. However, Vrbo's post-transition recovery has been slower than expected.

Key takeaways

• Expedia reported adjusted quarterly earnings of 21 cents per share, beating analyst predictions of a loss of 24 cents per share. Total revenue for the quarter was $2.89 billion, up 8% from a year ago. Analysts had expected revenue of $2.81 billion.
• Expedia's consumer business has undergone significant changes recently, including technical migrations, changes to its loyalty program and shifts in operational strategies.
• Hotels.com has faced challenges and experienced slower growth due to the significant impact of the migration. As Expedia's most global brand, reduced spending on international performance marketing in recent years has negatively impacted performance.

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