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Expedia Group, Inc. (EXPE) SEC Filing 10-Q Quarterly report for the period ending Tuesday, June 30, 2020

Expedia Group, Inc.

CIK: 1324424 Ticker: EXPE
Exhibit 99.1

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Expedia Group Reports Second Quarter 2020 Results
SEATTLE, WA – July 30, 2020 – Expedia Group, Inc. (NASDAQ: EXPE) announced financial results today for the second quarter ended June 30, 2020.

“The second quarter of 2020 represented likely the worst quarter the travel industry has seen in modern history and Expedia was of course not spared. However, after the bottom of the trough in April, we saw consistent improvement in gross bookings through May and June with cancellations moderating. It is clear though that it will be a bumpy and inconsistent recovery with virus numbers being volatile around the globe and country and region restrictions changing all the time.” said Vice Chairman and CEO, Peter Kern. “We cannot control these short term changes in demand, so we are instead focused on our needed long term strategic work. By reshaping and simplifying our organization we have put ourselves in position to optimize our brands, our data, and our platform technologies. These changes have also allowed us to streamline our business as we look to drive significant efficiency across the company. Thanks to the tremendous efforts of our team, I am confident we are on track to come out of the pandemic in a much better place.”


Financial Summary & Operating Metrics ($ millions except per share amounts)(1) 
 
Expedia Group, Inc.
Metric
Q2 2020
Q2 2019
Δ Y/Y
Room night growth
(81)%
12%
NM
Gross bookings
$2,713
$28,292
(90)%
Revenue
566
3,153
(82)%
Operating income (loss)
(849)
265
NM
Net income (loss) attributable to Expedia Group common stockholders
(753)
183
NM
Diluted earnings (loss) per share
$(5.34)
$1.21
NM
Adjusted EBITDA(2)
(436)
568
NM
Adjusted net income (loss)(2)
(577)
276
NM
Adjusted EPS(2)
$(4.09)
$1.77
NM
Free cash flow(2)
(2,052)
839
NM

(1)All comparisons are against comparable period of 2019 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.

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

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The following information was filed by Expedia Group, Inc. (EXPE) on Thursday, July 30, 2020 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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Inside this 10-Q Quarterly Report

Cover Page
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 (Loss)
Consolidated Statements Of Comprehensive Income (Loss) (Parenthetical)
Consolidated Statements Of Operations
Consolidated Statements Of Operations (Parenthetical)
Basis Of Presentation
Basis Of Presentation (Tables)
Basis Of Presentation - Reclassifications (Details)
Capital Stock
Capital Stock (Tables)
Capital Stock - Accumulated Other Comprehensive Loss (Details)
Capital Stock - Additional Information (Details)
Capital Stock - Summary Of Dividends Declared (Details)
Commitments And Contingencies
Commitments And Contingencies - Additional Information (Detail)
Debt
Debt (Tables)
Debt - Additional Information (Detail)
Debt - Fair Value Of Outstanding Debt (Details)
Debt - Long Term Debt Outstanding (Details)
Earnings (Loss) Per Share
Earnings (Loss) Per Share - (Tables)
Earnings (Loss) Per Share - Additional Information (Detail)
Earnings (Loss) Per Share - Basic And Diluted Earnings (Loss) Per Share (Details)
Fair Value Measurements
Fair Value Measurements (Tables)
Fair Value Measurements - Additional Information (Detail)
Fair Value Measurements - Financial Assets And Liabilities Measured At Fair Value On Recurring Basis (Details)
Income Taxes
Income Taxes - Additional Information (Detail)
Restructuring And Related Reorganization Charges
Restructuring And Related Reorganization Charges (Details)
Restructuring And Related Reorganization Charges (Tables)
Restructuring And Related Reorganization Charges - Summary Of The Restructuring And Related Reorganization Activity (Details)
Segment Information
Segment Information (Detail)
Segment Information (Tables)
Segment Information - Additional Information (Detail)
Segment Information - Revenue By Business Model And Service Type (Details)
Subsequent Events
Subsequent Events Narrative (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies (Tables)
Summary Of Significant Accounting Policies - Accounts Receivable And Allowances (Details)
Summary Of Significant Accounting Policies - Cash, Cash Equivalents, And Restricted Cash (Details)
Summary Of Significant Accounting Policies - Revenue Recognition (Details)
Ticker: EXPE
CIK: 1324424
Form Type: 10-Q Quarterly Report
Accession Number: 0001324424-20-000058
Submitted to the SEC: Thu Jul 30 2020 7:26:53 PM EST
Accepted by the SEC: Fri Jul 31 2020
Period: Tuesday, June 30, 2020
Industry: Transportation Services

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