Expedia Stock Tumbles 19% Amid CEO Change and Mixed Q4 Results

The online travel giant faces a challenging outlook after exceeding earnings expectations but falling short on bookings.

Expedia Group's stock plummeted by 19% following a mixed Q4 earnings report and the announcement of a CEO change, with Ariane Gorin set to replace Peter Kern.
Despite exceeding earnings and sales expectations, Expedia's bookings fell short of forecasts, contributing to the stock's decline.
The company forecasts modest revenue growth and improved profit margins for 2024, amidst concerns over softening airfares and a challenging near-term setup.
Expedia achieved record revenue of $12.8 billion in 2023, with a significant 145% jump in full-year diluted earnings per share compared to 2022.
The CEO transition and the company's guidance for 2024 have introduced uncertainty, impacting investor sentiment and stock performance.