Expedia Group, Inc. (NASDAQ:EXPE) reported its Q2 results, with EPS coming in at $1.96, beating the Street estimate of $1.58. Revenue was up 51% year-over-year to $3.18 billion, compared to the Street estimate of $3 billion. Both the revenue and adjusted EBITDA represented a record high for the second quarter.
Total gross bookings grew 26% year-over-year given further improved travel demand and improved lodging, air and other travel products’ gross bookings.
The company’s lodging bookings were up 8% above 2019 levels, but well below its peers. According to the analyst at Oppenheimer, investors better understand management’s strategy of prioritizing higher LTV customers, therefore lower lodging share was largely expected.