Expedia Group, Inc. (NASDAQ:EXPE) Q3 2024 Results Conference Call November 7, 2024 4:30 PM ET

Company Participants

Harshit Vaish - SVP of Corporate Development, Strategy & Investor Relations
Ariane Gorin - Chief Executive Officer
Julie Whalen - Chief Financial Officer

Conference Call Participants

Lee Horowitz - Deutsche Bank
Deepak Mathivanan - Cantor Fitzgerald
Trevor Young - Barclays
Conor Cunningham - Melius Research
Naved Khan - B. Riley
Austin Riddick - Evercore ISI
Jed Kelly - Oppenheimer
Anthony Post - Bank of America

Operator

Good day, everyone, and welcome to the Expedia Group Q3 2024 Financial Results Teleconference. My name is Alex and I will be the operator for today's call. [Operator Instructions].

For opening remarks, I will turn the call over to SVP, Corporate Development and Strategy and Investor Relations, Harshit Vaish. Please go ahead.

Harshit Vaish

Good afternoon, and welcome to Expedia Group's third quarter 2024 earnings call. I am pleased to be joined on today's call by our CEO, Ariane Gorin; and our CFO, Julie Whalen.

As a reminder, our commentary today will include references to certain non-GAAP measures. Reconciliations of these non-GAAP measures to the most comparable GAAP measures are included in our earnings release. And unless otherwise stated, any reference to expenses exclude stock-based compensation.

We will also be making forward-looking statements during the call, which are predictions, projections or other statements about future events. These statements are based on current expectations and assumptions, which are subject to risks and uncertainties that are difficult to predict. Actual results could materially differ due to factors discussed during this call and in our most recent Forms 10-K, 10-Q and other filings with the SEC.

Except as required by law, we do not undertake any responsibility to update these forward-looking statements. Our earnings release, SEC filings and a replay of today's call can be found on our Investor Relations website at ir.expediagroup.com.

And with that, let me turn the call over to Ariane.

Ariane Gorin

Thanks, Harshit, and thank you all for joining us today.

Our third quarter results reflect strong execution across our company. We exceeded our expectations on gross bookings and earnings with revenue landing in line despite weather and currency headwinds. We accelerated gross bookings in our consumer business for the second straight quarter, driven by continued strength in Brand Expedia, Vrbo returning to growth, and good results in our international points of sale.

Our advertising and B2B businesses continue to outpace the industry, both delivering strong double-digit growth. We remain disciplined on costs with cost of sales and overheads, both declining year-over-year. Overall, we're pleased with the results of our work. We're executing and what's in our control and capitalizing on growth opportunities to rebuild momentum after our tech replatforming.