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Expedia, Inc. (EXPE) SEC Filing 10-K Annual report for the fiscal year ending Sunday, December 31, 2017

Expedia Group, Inc.

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CIK: 1324424 Ticker: EXPE
Exhibit 99.1

expediainc72717a01.jpg
Expedia, Inc. Reports Fourth Quarter and Full Year 2017 Results
BELLEVUE, WA – February 8, 2018 – Expedia, Inc. (NASDAQ: EXPE) announced financial results today for the fourth quarter and full year ended December 31, 2017.

"I am excited to report that Expedia began 2018 firmly on a path toward faster growth and greater share gains in the $1.6 trillion travel industry. Over the past several months, we have made key organizational changes, aligned our company around common objectives and began executing on a new direction aimed at accelerating the geographic expansion of our global travel platform," said CEO Mark Okerstrom. "We are now operating with a clear focus on our highest priority markets, making concentrated investments across the platform including a step function change in our pace of adding new properties to our marketplace. These efforts combined with the impact of our ongoing cloud migration result in expectations for full year 2018 Adjusted EBITDA growth of 6% to 11%*."
Key Highlights
•
Gross bookings increased $2.4 billion or 14% year-over-year to $19.8 billion in the fourth quarter of 2017. Revenue increased 11% year-over-year to $2.3 billion in the fourth quarter.
•
Room nights stayed for Brand Expedia, Hotels.com, Expedia Affiliate Network and Egencia combined increased 17% year-over-year in the fourth quarter of 2017, with HomeAway room nights stayed up 30% year-over-year for the same period.
•
In 2017, gross bookings on the HomeAway platform increased 46% year-over-year to $8.7 billion. Total revenue of $906 million included transactional revenue of $617 million, which grew 115% year-over-year. 
•
Expedia, Inc.'s global Core OTA lodging portfolio increased to more than 590,000 properties available as of December 31, 2017, up 69% year-over-year, including 150,000 instantly bookable HomeAway listings.
•
In the fourth quarter of 2017, Expedia repurchased 1.3 million shares for $156 million and paid $46 million in dividends. During 2017, Expedia generated nearly $1.1 billion in free cash flow.

*A reconciliation of Adjusted EBITDA guidance to the closest corresponding GAAP measure is not provided because we are unable to predict the ultimate outcome of certain significant items without unreasonable efforts. These items include, but are not limited to, foreign exchange, returns on investment spending, and acquisition-related or restructuring expenses. As such, the items that are excluded from our non-GAAP guidance are uncertain, depend on various factors, and could have a material impact on GAAP results for the guidance period.
Financial Summary & Operating Metrics ($ millions except per share amounts) - Fourth Quarter 2017
Metric
Q4 2017
Q4 2016
Δ Y/Y
Room night growth(1)
15%
23%
(757) bps
Gross bookings(1)
$19,765.9
$17,402.5
14%
Revenue
2,319.2
2,092.8
11%
Operating income
113.5
147.2
(23)%
Net income attributable to Expedia, Inc.
55.2
79.5
(31)%
Diluted EPS
$0.35
$0.51
(31)%
Adjusted EBITDA(2)
402.5
441.5
(9)%
Adjusted net income(2)
131.6
182.9
(28)%
Adjusted EPS(2)
$0.84
$1.17
(28)%
Free cash flow(2)
(307.6)
(161.6)
(90)%

(1) Expedia acquired HomeAway on December 15, 2015. Beginning in the first quarter of 2017, HomeAway results are included in lodging room nights and gross bookings operating metrics, with quarterly results for 2016 adjusted to reflect this change.

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The following information was filed by Expedia Group, Inc. (EXPE) on Thursday, February 8, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Expedia Group, Inc.'s 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Changes In Stockholders' Equity
Consolidated Statements Of Changes In Stockholders' Equity (parenthetical)
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Operations
Consolidated Statements Of Operations (parenthetical)
Acquisitions And Other Investments
Acquisitions And Other Investments (tables)
Acquisitions And Other Investments - Additional Information (detail)
Acquisitions And Other Investments - Summary Of Fair Value Of Assets Acquired And Liabilities Assumed In Conjunction With Acquisition (details)
Acquisitions And Other Investments - Supplemental Pro Forma Information (details)
Commitments And Contingencies
Commitments And Contingencies (tables)
Commitments And Contingencies - Additional Information (detail)
Commitments And Contingencies - Lease Commitments (details)
Commitments And Contingencies - Schedule Of Commitments And Obligations (details)
Debt
Debt (tables)
Debt - Additional Information (detail)
Debt - Fair Value Of Debt Outstanding (details)
Debt - Long Term Debt Outstanding (details)
Disposition Of Business
Disposition Of Business (tables)
Disposition Of Business - Additional Information (detail)
Disposition Of Business - Amounts Related To Elong In Consolidated Results Of Operations (details)
Disposition Of Business - Carrying Amounts Of Assets And Liabilities Disposed Of (details)
Earnings Per Share
Earnings Per Share (tables)
Earnings Per Share - Additional Information (detail)
Earnings Per Share - Basic And Diluted Earnings Per Share (details)
Employee Benefit Plans
Employee Benefit Plans - Additional Information (detail)
Fair Value Measurements
Fair Value Measurements (tables)
Fair Value Measurements - Additional Information (detail)
Fair Value Measurements - Financial Instruments Measured At Fair Value (details)
Goodwill And Intangible Assets, Net
Goodwill And Intangible Assets, Net (tables)
Goodwill And Intangible Assets, Net - Additional Information (detail)
Goodwill And Intangible Assets, Net - Changes In Goodwill By Reportable Segment (details)
Goodwill And Intangible Assets, Net - Components Of Intangible Assets With Definite Lives (details)
Goodwill And Intangible Assets, Net - Estimated Future Amortization Expense Related To Intangible Assets (details)
Goodwill And Intangible Assets, Net - Schedule Of Goodwill And Intangible Assets (details)
Guarantor And Non-guarantor Supplemental Financial Information
Guarantor And Non-guarantor Supplemental Financial Information (tables)
Guarantor And Non-guarantor Supplemental Financial Information - Schedule Of Balance Sheet Information (details)
Guarantor And Non-guarantor Supplemental Financial Information - Schedule Of Cash Flow Statement Information (details)
Guarantor And Non-guarantor Supplemental Financial Information - Schedule Of Statement Of Operations Information (details)
Income Taxes
Income Taxes (tables)
Income Taxes - Additional Information (detail)
Income Taxes - Components Of Deferred Tax Assets And Deferred Tax Liabilities (details)
Income Taxes - Domestic And Foreign Income Loss Before Income Taxes (details)
Income Taxes - Schedule Of Statutory Federal Income Tax Rate To Income From Continuing Operations Before Income Taxes (details)
Income Taxes - Summary Of Provision For Income Taxes (details)
Income Taxes - Uncertain Tax Positions (details)
Organization And Basis Of Presentation
Other Income (expense)
Other Income (expense) (tables)
Other Income Expense (detail)
Property And Equipment, Net
Property And Equipment, Net (tables)
Property And Equipment, Net - Additional Information (detail)
Property And Equipment, Net - Components Of Property And Equipment, Net (details)
Quarterly Financial Information (unaudited)
Quarterly Financial Information (unaudited) (tables)
Quarterly Financial Information - Schedule Of Quarterly Financial Information (details)
Redeemable Non-controlling Interests
Redeemable Non-controlling Interests (tables)
Redeemable Non-controlling Interests - Additional Information (details)
Redeemable Non-controlling Interests - Reconciliation Of Redeemable Non-controlling Interest (details)
Related Party Transactions
Related Party Transactions - Additional Information (detail)
Restructuring And Related Reorganization Charges
Restructuring And Related Reorganization Charges (tables)
Restructuring And Related Reorganization Charges - Additional Information (detail)
Restructuring And Related Reorganization Charges - Restructuring And Related Reorganization Activity (details)
Segment Information
Segment Information (tables)
Segment Information - Additional Information (detail)
Segment Information - Revenue By Services And Geographic Area (details)
Segment Information - Schedule Of Property Plant And Equipment By Geographic Area (details)
Segment Information - Schedule Of Segment Information (detail)
Significant Accounting Policies
Significant Accounting Policies - Additional Information (detail)
Significant Accounting Policies Policies (policies)
Stock-based Awards And Other Equity Instruments
Stock-based Awards And Other Equity Instruments (tables)
Stock-based Awards And Other Equity Instruments - Additional Information (detail)
Stock-based Awards And Other Equity Instruments - Summary Of Restricted Stock Units Activity (details)
Stock-based Awards And Other Equity Instruments - Summary Of Stock Option Activity (details)
Stock-based Awards And Other Equity Instruments - Weighted Average Assumptions Of Black-scholes And Monte Carlo Option-pricing Models (details)
Stockholders' Equity
Stockholders' Equity (tables)
Stockholders' Equity - Accumulated Other Comprehensive Loss (details)
Stockholders' Equity - Additional Information (details)
Stockholders' Equity - Effects Of Changes In Noncontrolling Interest (details)
Stockholders' Equity - Shares Repurchased (details)
Stockholders' Equity - Summary Of Dividends Declared (details)
Valuation And Qualifying Accounts
Valuation And Qualifying Accounts (details)
Valuation And Qualifying Accounts (tables)
Ticker: EXPE
CIK: 1324424
Form Type: 10-K Annual Report
Accession Number: 0001324424-18-000006
Submitted to the SEC: Thu Feb 08 2018 6:25:16 PM EST
Accepted by the SEC: Fri Feb 09 2018
Period: Sunday, December 31, 2017
Industry: Transportation Services

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