Revenue grew by 9% to $3.15 billion. The positive top-line performance reflects contributions from Expedia Partner Solutions, Brand Expedia, and Vrbo. Domestic revenue increased by 13% and international revenue rose by 5%.
During the quarter, gross bookings increased 9% and total stayed lodging room nights grew 12%. As of June 30, 2019, the company has nearly 1.3 million properties available on its core lodging platform, including about 570,000 integrated Vrbo listings.
As a percentage of total worldwide revenue in the second quarter of 2019, lodging accounted for 71%, advertising and media accounted for 9%, air accounted for 7% and all other revenues accounted for the balance 13%.
As on June 30, 2019, cash, cash equivalents, restricted cash and short-term investments totaled $5.5 billion. For the first half ended June 30, 2019, cash provided by operating activities was $3.3 billion and free cash flow totaled $2.7 billion. Both measures include $2.7 billion from net changes in operating assets and liabilities, primarily driven by growth in deferred merchant bookings.
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On June 13, the company paid a quarterly dividend of $0.32 per common share. Also, in July 2019, the executive committee of the board approved an increase to the divdend for an eighth consecutive year. The committee declared a quarterly cash dividend of $0.34 per share of outstanding common stock. The dividend will be paid on September 12, 2019, to stockholders of record on August 22, 2019.
Expedia’s competitor TripAdvisor (NASDAQ: TRIP) is scheduled to publish second-quarter results on August 8, before the opening bell. It is widely expected that earnings will jump by 24% to $0.51 per share on revenues of $445.67 million.
Shares of Expedia ended Thursday’s regular session up 0.28% at $138.21 on the Nasdaq. Following the earnings release, the stock rose over 3% in the after-market session.