Expedia Group, Inc. (EXPE) 10-Q Quarterly Report November 2019

BELLEVUE, WA – November 6, 2019 – Expedia Group, Inc. (NASDAQ: EXPE) announced financial results today for the third quarter ended September 30, 2019.

Key Highlights⁽¹⁾


•	Gross bookings increased $2.3 billion or 9% to $26.9 billion. Revenue increased 9% to $3.6 billion.


•	Total stayed lodging room nights increased 11%.


•	Expedia Group's net income declined 22% and Adjusted EBITDA was flat in the third quarter.


•	Expedia Group exceeded 1.4 million properties available on its core lodging platform as of September 30, 2019, including over 650,000 integrated Vrbo listings.


•	Year-to-date, Expedia Group repurchased 3.2 million shares for $418 million. Including the Liberty Expedia Holdings, Inc. transaction, Expedia Group has retired a total of 6.3 million shares.


•	Year-to-date net cash provided by operating activities and free cash flow grew 14% and 5%, respectively. Excluding capital expenditures related to our Seattle headquarters, year-to-date free cash flow grew 15%.

Financial Summary & Operating Metrics ($ millions except per share amounts)



	Expedia Group (excluding trivago)⁽³⁾			Expedia Group, Inc.
Metric	Q3 2019	Q3 2018	Δ Y/Y	Q3 2019	Q3 2018	Δ Y/Y
Room night growth	11%	13%	(189) bps	11%	13%	(189) bps
Gross bookings	$26,927	$24,676	9%	$26,927	$24,676	9%
Revenue	3,368	3,076	9%	3,558	3,276	9%
Operating income	606	651	(7)%	609	672	(9)%
Net income attributable to Expedia Group				409	525	(22)%
Diluted earnings per share				$2.71	$3.43	(21)%
Adjusted EBITDA⁽²⁾	900	881	2%	912	912	—%
Adjusted net income⁽²⁾	518	553	(6)%	520	567	(8)%
Adjusted EPS⁽²⁾	$3.37	$3.56	(5)%	$3.38	$3.65	(7)%
Free cash flow⁽²⁾				(1,152)	(594)	94%

⁽¹⁾All comparisons are against comparable period of 2018 unless otherwise noted.

⁽²⁾"Adjusted EBITDA" (Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization), "Adjusted net income (loss)," "Adjusted EPS" and "Free cash flow" are non-GAAP measures as defined by the Securities and Exchange Commission (the "SEC"). See "Definitions of Non-GAAP Measures" and "Tabular Reconciliations for Non-GAAP Measures" on pages 12-18 herein for an explanation and reconciliations of non-GAAP measures used throughout this release. Expedia Group does not calculate or report net income by segment.

⁽³⁾trivago is a separately listed company on the Nasdaq Global Select Market and, therefore, is subject to its own reporting and filing requirements which could result in possible differences that are not expected to be material to Expedia Group.

Please refer to the "Glossary of Business Terms," located in the Quarterly Results section on Expedia Group’s investor relations website, for business and financial statement definitions used throughout this release.

Discussion of Results

The results for Expedia Group, Inc. ("Expedia Group" or "the Company") include Brand Expedia®, Hotels.com®, Expedia® Partner Solutions, Vrbo®, Egencia®, trivago®, HomeAway®, Orbitz®, Travelocity®, Hotwire®, Wotif®, ebookers®, CheapTickets®, Expedia Group™ Media Solutions, Expedia Local Expert®, CarRentals.com™, Expedia® CruiseShipCenters®, Classic Vacations®, Traveldoo®, VacationRentals.com and SilverRail™. Results include the related international points of sale for all brands and the immaterial impact of Bodybuilding.com since the Liberty Expedia Holdings, Inc. transaction on July 26, 2019. All amounts shown are in U.S. dollars.

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The following information was filed by Expedia Group, Inc. (EXPE) on Wednesday, November 6, 2019 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Material Contracts, Statements, Certifications & more

Expedia Group, Inc. provided additional information to their SEC Filing as exhibits

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.3: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.1: Section 1350 Certification

Exhibit 32.2: Section 1350 Certification

Exhibit 32.3: Section 1350 Certification

Ticker: EXPE
CIK: 1324424
Form Type: 10-Q Quarterly Report
Accession Number: 0001324424-19-000047
Submitted to the SEC: Wed Nov 06 2019 5:46:17 PM EST
Accepted by the SEC: Thu Nov 07 2019
Period: Monday, September 30, 2019
Industry: Transportation Services

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