Expedia Group, Inc. reported strong financial performance for the third quarter and the first nine months of 2024, reflecting significant growth in revenue and profitability compared to the same periods in 2023. For Q3 2024, total revenue reached $4,060 million, a 3% increase from $3,929 million in Q3 2023. For the nine months ended September 30, 2024, revenue totaled $10,507 million, up 6% from $9,952 million in the prior year.

Operating income for Q3 2024 was $762 million, marking a 26% increase from $607 million in Q3 2023. For the nine-month period, operating income rose to $1,103 million from $929 million, a 19% increase. Net income attributable to Expedia Group for Q3 2024 was $684 million, compared to $425 million in Q3 2023, while for the nine months, net income increased to $935 million from $665 million.

The company's earnings per share (EPS) also saw substantial growth, with Q3 2024 EPS at $5.28, up from $2.98 in Q3 2023. For the nine months, EPS rose to $7.07 from $4.51.

Expedia's business segments showed varied performance. The B2C segment generated $2,780 million in revenue for Q3 2024, a slight decrease from $2,819 million in the same period last year. In contrast, the B2B segment experienced an 18% increase, reaching $1,178 million. Lodging revenue for Q3 2024 was $3,317 million, up from $3,233 million in Q3 2023.

The company reported a gross bookings increase of 7% for Q3 2024, totaling $27,498 million, and a 5% increase for the nine months, reaching $86,499 million. Booked room nights grew by 9% in the first nine months of 2024.

Strategically, Expedia has focused on enhancing its technology and product offerings, including the launch of the One Key loyalty program, which allows cross-earning and redeeming of rewards across its brands. The company has also unified its technology and product teams to improve operational efficiency.

In terms of financial position, total assets increased to $23,405 million as of September 30, 2024, up from $21,642 million at the end of 2023. Cash and cash equivalents rose to $4,722 million, compared to $4,225 million at the end of 2023. However, total stockholders’ equity decreased to $2,566 million from $2,786 million.

Expedia's restructuring efforts resulted in charges of $6 million for Q3 2024 and $72 million for the nine months, primarily related to employee severance and benefits costs. The company anticipates additional reorganization charges of approximately $5 million to $10 million for the remainder of 2024.

Overall, Expedia Group's financial results for Q3 and the first nine months of 2024 demonstrate a robust recovery and growth trajectory, driven by increased travel demand and strategic initiatives.