Expedia Group Q4 EPS Jumps 58% to $3.78, B2B Bookings Up 24%
Expedia Group posted Q4 adjusted EPS of $3.78, a 58% year-over-year increase and 9.3% beat, on revenues of $3.55 billion, up 11.4% and 4.2% above projections. B2B gross bookings surged 24% to $8.66 billion with $1.29 billion in revenue, while advertising revenue climbed 19% to $305 million.
1. Q4 Earnings Overview
Expedia Group delivered adjusted EPS of $3.78 in Q4, beating estimates by 9.3% and rising 58% year over year. Total revenue reached $3.55 billion, up 11.4% year over year and 4.2% above consensus, driven by higher booked room nights and gross bookings.
2. B2B Segment Performance
The B2B division generated gross bookings of $8.66 billion, a 24% increase, and reported revenues of $1.29 billion, 7.6% above expectations. Adjusted EBITDA for B2B hit $308 million with a 23.9% margin, down 60 basis points as investments in new products and partner capabilities accelerated.
3. Advertising Momentum
Advertising revenues rose 19% to $305 million, topping estimates by 16.4%, as Expedia’s ad partner base expanded to a record level. Expedia advertising delivered $208 million and trivago ads contributed $97 million, aided by new video ad formats on search results and homepages.
4. B2C and Regional Dynamics
B2C gross bookings climbed 5% to $18.34 billion and revenues rose 4% to $2.16 billion, both beating forecasts. Adjusted EBITDA for B2C expanded 560 basis points to a 31.5% margin, while U.S. and EMEA posted strong growth and Asia-Pacific faced headwinds.