Market Updates
Expedia Estimates Strong Summer Travel Recovery, Stock Drops 13%
Scott Peters
03 May, 2022
New York City
Expedia Group reported first quarter 2022 revenues increased 82% to $2.25 billion and net loss shrank 80% to $123 million from a year ago.
Diluted loss per share in the quarter fell to 78 cents from $4.17 a year ago.
Gross bookings in the quarter jumped 58% to $24.4 billion but still 15% below record $29.4 billion bookings in the first quarter 2019.
Gross bookings surged 40% from $17.4 billion in the fourth quarter 2021.
Domestic revenues jumped 65% to $1.6 billion and international revenues soared 142% to $593 million.
Lodging revenues increased 78% to $1.61 billion, air travel related revenues jumped 50% to $74 million, advertising and media revenues advanced 88% to $166 million, and other revenues soared 94% to $399 million.
Lodging revenue increased in the first quarter driven by a significant increase in room nights stayed across hotels and alternative accommodations as well as average daily rate growth.
Revenue per night growth in the quarter increased to 17% from 10% in the year ago.
Stayed room nights in the quarter increased 52% to 56.5 million from a year ago.
Average daily revenue increased to 20% in the quarter from 8% a year ago.
Worldwide airline tickets sold in the quarter increased 48% from a decline of 50% in the quarter a year ago.
Airfare revenue growth in the quarter increased to 39% compared to 26% decline in the period a year ago.
Expedia Group stock fell 14% to $150.42 after several analysts lowered the price target and cited the ongoing war in Europe and rising inflation added to uncertainties.
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Earnings
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