Expedia Group reported a revenue increase of $3.55 billion for its fourth quarter, surpassing analyst expectations of $3.41 billion. The company also achieved adjusted earnings per share of $3.78, beating the anticipated $3.37.
Gross bookings for the quarter reached $27 billion, marking an 11% rise compared to the previous year. Notably, the business-to-business (B2B) segment saw a substantial 24% growth, while the consumer-facing business-to-consumer (B2C) segment only grew by 5%.
CEO Ariane Gorin emphasized that the results stem from a focused execution of strategic goals amid strong demand. However, the company recently laid off 162 employees in Washington state as part of a workforce reduction.
Looking ahead, Expedia anticipates first-quarter gross bookings between $34.6 billion and $35.2 billion, a year-over-year increase of 10% to 12%. Revenue projections for the same period are estimated between $3.32 billion and $3.37 billion, reflecting an 11% to 13% rise. Following the announcement, shares dropped over 3% in after-hours trading.