Expedia Group ( NASDAQ: EXPE ) slid in postmarket trading on Thursday after missing expectations with its Q4 earnings report . Gross bookings were up 17% from a year ago to $20.5B, but fell short of the consensus expectation for $21.1B.
Revenue was up across lodging (+18%), air (+44%) and advertising/media (+15%). As a percentage of total revenue in Q1, lodging accounted for 77%, advertising and media accounted for 7%, air accounted for 4%, and all other revenues accounted for the remaining 12%.
The lodging business growth was driven by a significant increase of 19% in room nights stayed and average daily rate growth of 3%.
Adjusted EBITDA fell 6% year-over-year to $449M.
Consolidated free cash flow totaled $359M, a decline of $501M compared to the prior year primarily due to a decrease in cash provided by operating activities, driven by changes in working capital.
CEO Peter Kern: "While our Q4 results were negatively impacted by severe weather, demand was otherwise strong and accelerating, and has been markedly stronger since the start of the year."
Shares of Expedia ( EXPE ) fell 7.50% in after-hours trading.
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Expedia sheds 8% after sales, gross bookings miss expectations