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Expedia Announces Stock Repurchase Program and Beats Expectations

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Andrew R. Michaud

• November 03, 2023

Expedia Group, the renowned online travel agency, has recently revealed a significant stock-repurchase program and impressive quarterly financial results, leading to a surge in stock prices.

Stock Buyback Program

Quarterly Results

Expedia posted remarkable quarterly results, surpassing expectations set by industry experts. The company reported revenue of $3.93 billion, showcasing a 9% increase compared to the previous year. This figure exceeds the Street consensus of $3.86 billion. Moreover, profits on an adjusted basis were reported as $5.41 per share, marking a significant increase of 33% from the previous year. This result also managed to outperform the Street consensus forecast of $4.99 per share.

Adjusted earnings before interest, taxes, depreciation, and amortization came in at an impressive $1.2 billion, reflecting a 13% surge. Gross bookings saw a 7% increase from the year-earlier quarter, reaching $25.7 billion. Additionally, the total number of booked room nights rose by 9%, totaling 89.3 million.

Outlook and Future Growth

Expedia remains optimistic about their future growth prospects and expects to achieve double-digit revenue growth for the year, with margins exceeding those of the previous year. CEO Peter Kern expressed satisfaction with the company's strong third-quarter results. He attributed the success to the resilience of travel demand and continuous improvements resulting from their strategic execution.

In conclusion, Expedia Group's recent stock-repurchase program announcement and exceptional quarterly results have undoubtedly left a positive impact on the company's stock prices. With their strong outlook and commitment to maximizing shareholder returns, Expedia is positioning itself as a leader in the online travel industry.