Expedia Group Inc (NASDAQ:EXPE) reported better-than-expected earnings for its fourth quarter.
The company, out of Bellevue, Wash., reported Friday total gross bookings increased 11% (including two percentage points of negative foreign exchange impact), driven primarily by growth in Expedia Partner Solutions and Brand Expedia.
Domestic gross bookings increased 13% and international gross bookings increased 8% (including three percentage points of negative foreign exchange impact).
Total revenue increased 10% (including two percentage points of negative foreign exchange impact), driven primarily by growth in Brand Expedia and Expedia Partner Solutions.
Domestic revenue increased 14% and international revenue increased 6% (including four percentage points of negative foreign exchange impact).
GAAP net income attributable to Expedia Group was $17 million in the fourth quarter of 2018, compared to GAAP net income of $55 million in the fourth quarter of 2017.
GAAP net income attributable to Expedia Group was $406 million in 2018, an increase of 7% compared to GAAP net income of $378 million in 2017.
Adjusted EBITDA was $471 million in the fourth quarter of 2018, compared to Adjusted EBITDA of $402 million in the fourth quarter of 2017. Adjusted EBITDA was $2.0 billion in 2018, an increase of 15% compared to Adjusted EBITDA of $1.7 billion in 2017.
Expedia Group exceeded one million properties available on its core lodging platform as of December 31, 2018, including over 370,000 integrated HomeAway listings. HomeAway offers over 1.8 million online bookable listings
Shares rocketed $5.70, or 4.5%, to $133.57
