Expedia Group Reports Fourth Quarter and Full Year 2022 Results

About this update from Expedia Group, Inc.

[{"type":"text","content":" SEATTLE--(BUSINESS WIRE)--\nExpedia Group, Inc. (NASDAQ: EXPE) announced financial results today for the fourth quarter and full year ended December 31, 2022.\n\nKey Highlights\n\n\nRecord full year and fourth quarter lodging bookings and lodging revenue.\n\n\nSignificant earnings growth with full year GAAP net income of $352 million, compared to a net loss of $269 million in 2021. Full year adjusted net income up over 300% versus 2021 and record Adjusted EBITDA of over $2.3 billion.\n\n\nFull year free cash flow grew to $2.8 billion, over 70% higher than 2019.\n\n\nReduced debt by $2.2 billion during 2022, resulting in a significant reduction in leverage.\n\n\nRepurchased 5.2 million shares for approximately $500 million for the year and approximately $350 million in shares in the fourth quarter 2022.\n\n\n“We were pleased that we were able to deliver our most profitable year in 2022, despite the friction from transforming our business model and technology platform. While our Q4 results were negatively impacted by severe weather, demand was otherwise strong and accelerating, and has been markedly stronger since the start of the year,” said Peter Kern, Vice Chairman and CEO, Expedia Group. \"We begin ‘23 with record app usage and member counts, led by Expedia US, the first of our brands to deploy new capabilities and marketing strategies. This year, we are excited to see these benefits accrue to more of our brands and geographies, driving further growth and margin expansion.\"\n\n\n\nFinancial Summary & Operating Metrics (In millions, except per share amounts) - Fourth Quarter 2022\n\n\n\n\n\n \n\n\n\nExpedia Group, Inc.\n\n\n\n\n\nMetric\n\n\n\nQ4 2022\n\n\n\nQ4 2021\n\n\n\nΔ Y/Y\n\n\n\n\n\nBooked room nights\n\n\n\n70.8\n\n\n\n59.7\n\n\n\n19%\n\n\n\n\n\nStayed room nights\n\n\n\n74.6\n\n\n\n62.9\n\n\n\n19%\n\n\n\n\n\nGross bookings\n\n\n\n$20,511\n\n\n\n$17,463\n\n\n\n17%\n\n\n\n\n\nRevenue\n\n\n\n$2,618\n\n\n\n$2,279\n\n\n\n15%\n\n\n\n\n\nOperating income\n\n\n\n$128\n\n\n\n$163\n\n\n\n(21)%\n\n\n\n\n\nNet income attributable to Expedia Group common stockholders\n\n\n\n$177\n\n\n\n$276\n\n\n\n(36)%\n\n\n\n\n\nDiluted earnings per share\n\n\n\n$1.11\n\n\n\n$1.70\n\n\n\n(35)%\n\n\n\n\n\nAdjusted EBITDA(1)\n\n\n\n$449\n\n\n\n$479\n\n\n\n(6)%\n\n\n\n\n\nAdjusted net income(1)\n\n\n\n$196\n\n\n\n$167\n\n\n\n17%\n\n\n\n\n\nAdjuste...

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