The following is a summary of the Expedia Group, Inc. (EXPE) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Expedia Group reported Q3 2024 revenue of $4.1 billion, experiencing a 3% growth year-on-year, driven by strong performance in B2B, Brand Expedia, and advertising.

• Gross bookings grew by 7% year-on-year, totaling $27.5 billion, with lodging bookings up by 8%.

• Reported EBITDA was $1.25 billion, up 3%, with a slight EBITDA margin deleverage of approximately 16 basis points.

• Year-to-date free cash flow was robust at $2.3 billion, marking a 3% increase from the previous year.

Business Progress:

• Expedia accelerated investment in international markets and technology, including AI improvements to enhance customer service and increase conversion rates.

• Introduced new features across Brand Expedia and Vrbo, enhancing user experience and efficiency.

• Enhanced loyalty programs with new benefits and expanded redemption options, improving repeat rates.

• Secured new strategic B2B partnerships, including a notable new partnership with Microsoft Bing.

Opportunities:

• Expansion into international markets with targeted investments, showing acceleration especially in Scandinavia with double-digit growth.

• Increased focus on urban and shorter-stay markets through Vrbo, supported by the addition of nearly 1 million units previously available only on Brand Expedia.

Risks:

• Soft demand experienced initially in July, followed by improvement, indicative of volatility in travel demand.

• Vulnerability to weather events and macroeconomic factors demonstrated by impacts from hurricanes and unfavorable economic trends such as FX.

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