Summary by Moomoo AI
Expedia Group reported solid Q3 2024 results with revenue growing 3% to $4.1 billion, while booked room nights increased 9% YoY. Gross bookings rose 7% to $27.5 billion, with B2B bookings surging 19%. Operating income jumped 26% to $762 million, while net income soared 61% to $684 million.The company's B2C segment showed continued momentum with Brand Expedia growing room nights at mid-teens, while B2B revenue increased 18% to $1.2 billion. Lodging gross bookings reached $20.0 billion, up 8% YoY, with hotel bookings rising 10%. The company has repurchased approximately 12.0 million shares for $1.6 billion year-to-date.In a leadership change, CFO Julie Whalen will step down upon the appointment of her successor, expected before February 17, 2025. She has also resigned from the Board of Directors effective immediately. Whalen will remain with the company through February 2025 to ensure a smooth transition.
