Expedia Group, Inc. EXPE reported its fourth-quarter financial results and announced a CEO transition plan after the bell Thursday. Here's a look at the details.
The Details:
Expedia Group reported quarterly earnings of $1.72 per share which beat the analyst consensus estimate of $1.68 by 2.38%.
The company reported quarterly sales of $2.89 billion, beating the analyst consensus estimate of $2.88 billion and representing a 10.28% increase over sales of $2.62 billion from the same period last year.
The company also announced Ariane Gorin will succeed Peter Kern as Expedia’s new CEO effective on May 13, 2024.
Expedia reported record full year lodging gross bookings which grew by 11% and record hotel gross bookings which grew 18%, compared to 2022.
“We delivered on our full year guidance and drove record results, all while completing a massive transformation and navigating the inherent volatility that comes with that. Our work is finally starting to deliver results, and we are in the best place we’ve ever been technologically,” said Peter Kern, CEO of Expedia Group.
“Moving forward, we are now able to execute without the numerous constraints we have faced in recent years,” Kern continued.
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EXPE Price Action: According to Benzinga Pro, Expedia Group shares are trading down 12.3% after-hours at $139.80 at the time of publication.
Image: Mohamed Hassan from Pixabay
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