Travel company Expedia Group (NASDAQ: EXPE) has reported a sharp increase in revenues and adjusted earnings for the fourth quarter of 2023, reflecting strong demand across geographical regions and product categories.
There was a 10% increase in revenues to $2.89 billion during the three months when gross bookings increased 6% year-over-year to $21.67 billion.
Driven by the strong top-line performance, Expedia’s adjusted earnings climbed 37% year-over-year to $1.72 per share in the fourth quarter. On an unadjusted basis, meanwhile, net profit decreased to $132 million or $0.92 per share in Q4 from $177 million or $1.11 per share in the prior year period.
“Moving forward, we are now able to execute without the numerous constraints we have faced in recent years. We will continue to focus on acquiring and retaining the right customers, driving share growth in our B2C and B2B businesses, and providing the best product and partner experience in the industry,” said Expedia’s CEO Peter Kern.