Summary by Moomoo AI
Expedia Group reported Q2 2024 revenue growth of 6% to $3.6B, with total gross bookings reaching $28.8B. Room nights grew 10% YoY, led by Brand Expedia's nearly 20% growth. B2B revenue showed strong performance, increasing 22% to $1.0B. Net income remained flat at $386M while adjusted EBITDA rose 5% to $786M.The company demonstrated solid operational execution with lodging gross bookings up 8% to $20.7B and hotel bookings increasing 11%. Free cash flow surged 42% to $1.3B, while the company continued its share repurchase program, buying back approximately 9.2M shares for $1.2B year-to-date.Despite the strong Q2 performance, CEO Ariane Gorin noted a more challenging macro environment and softening travel demand in July, leading the company to adjust expectations for the remainder of the year. The company maintains a strong balance sheet with $6.2B in cash and cash equivalents as of June 30, 2024.
