Expedia posts record Q4 and full year 2023
The OTA reported the highest ever full year and fourth quarter revenue, both growing by 10% compared to 2022
Room night growth also came in short of expectations. Revenue jumped 10% to $2.89 billion, in line with analysts’ projections for $2.88 billion, according to data compiled by Bloomberg. The shares fell 13% in extended trading.
Key takeaways
- Expedia beat estimates for fourth-quarter profit and sales, driven by steady demand for travel in the United States;
- The company expects gross bookings growth in the first quarter to be in the low- to mid-single digits and revenue growth to be in the mid-single digits;
- The moderation in travel demand was not surprising after a strong recovery, which was echoed by hotel chain Hilton on its earnings call this week.
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