Expedia Group, Inc. (EXPE) 10-Q Quarterly Report May 2021

“Travel remains a study in contrasts - with strong vacation rental growth and demand for domestic travel continuing to drive us forward, while demand for international and business travel and conventional lodging remain challenged. Beach and outdoor destinations have shown robust rebounds while major cities remain muted, and some regions have been growing while others remain locked down. As the vaccine rollout continues, we expect to see a now-familiar story play out; domestic and leisure demand lead the recovery. However, as the dire situation in India reminds us, in some markets, things may get worse before they get better,” said Vice Chairman and CEO, Peter Kern. “For our part, we continue to invest in bolstering our technology platform and in marketing where we can best get ahead of the demand curve. Because the market has clearly shown that when people feel safe to travel, demand comes roaring back.”

Key Highlights

•Expedia Group received a binding offer from American Express Global Business Travel to acquire Egencia; The potential deal includes Expedia Group receiving approximately 14% of the combined entity along with a 10-year lodging supply agreement with Expedia Partner Solutions.

•Given the positive ongoing trends within the business and confidence in the current liquidity position, Expedia Group has elected to pay off 50% of the preferred stock issued in 2020 during the second quarter of 2021.

Financial Summary & Operating Metrics ($ millions except per share amounts)(1)



	Expedia Group, Inc.
Metric	Q1 2021	Q1 2020	Δ Y/Y
Stayed room night growth	(47)%	(14)%	NM
Gross bookings	$15,422	$17,885	(14)%
Revenue	1,246	2,209	(44)%
Operating income (loss)	(369)	(1,294)	(72)%
Net income (loss) attributable to Expedia Group common stockholders	(606)	(1,301)	(53)%
Diluted earnings (loss) per share	$(4.17)	$(9.24)	(55)%
Adjusted EBITDA(2)	(58)	(76)	(24)%
Adjusted net income (loss)(2)	(294)	(258)	14%
Adjusted EPS(2)	$(2.02)	$(1.83)	11%
Free cash flow(2)	2,002	(1,071)	NM

(1)All comparisons are against comparable period of 2020 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 11-17 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.

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The following information was filed by Expedia Group, Inc. (EXPE) on Thursday, May 6, 2021 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 22: Published Report Regarding Matters Submitted To Vote Of Security Holders

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: 0001324424-21-000044
Submitted to the SEC: Thu May 06 2021 5:37:31 PM EST
Accepted by the SEC: Fri May 07 2021
Period: Wednesday, March 31, 2021
Industry: Transportation Services

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Expedia Group, Inc. (EXPE) SEC Filing 10-Q Quarterly Report for the period ending Wednesday, March 31, 2021

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