Income Statement
Quarterly Data
The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.
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- Statement of Comprehensive Income
- Balance Sheet: Assets
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Enterprise Value to FCFF (EV/FCFF)
- Price to FCFE (P/FCFE)
- Capital Asset Pricing Model (CAPM)
- Selected Financial Data since 2005
- Price to Operating Profit (P/OP) since 2005
- Price to Book Value (P/BV) since 2005
- Analysis of Revenues
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Expedia Group Inc., consolidated income statement (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).
- Revenue Trends
- The revenue demonstrates a generally seasonal pattern with peaks in the third quarters and dips in the fourth quarters across most years between 2017 and 2022. A notable decline is observed starting in the first quarter of 2020, with revenue dropping significantly due to external factors, reaching a low point in the second quarter of 2020. Recovery begins in the subsequent quarters but remains volatile and below pre-2020 levels through to the first quarter of 2022.
- Cost of Revenue and Gross Profit
- Costs excluding depreciation and amortization follow a pattern consistent with revenue fluctuations but show relative stabilization from 2017 to 2019 before decreasing sharply in mid-2020, reflecting cost management measures. Gross profit trends mirror revenue performance, declining substantially in early 2020 and partially recovering afterwards, though not fully regaining pre-pandemic highs by early 2022.
- Operating Expenses
- Selling and marketing expenses maintain a generally high and stable level through 2017 to early 2020, with marked reductions occurring in the second quarter of 2020, followed by gradual increases thereafter but remaining below historical norms by 2022. Technology and content expenses show a decreasing trend beginning in early 2020, stabilizing at lower levels in 2021 and 2022. General and administrative expenses similarly decline starting in 2020, maintaining a lower range through 2022.
- Depreciation and Amortization
- Depreciation and amortization expenses see a substantial increase beginning in the first quarter of 2019, roughly tripling compared to earlier periods, remaining consistently high through the end of 2020 before gradually declining through 2022. This suggests significant asset capitalization or acquisitions during 2019 followed by gradual amortization.
- Impairment Charges
- There are notable goodwill impairment charges recorded sporadically, especially severe in the first half of 2020, coinciding with the pandemic period. Similarly, intangible asset impairments appear primarily in late 2018 and 2020, indicating asset write-downs likely related to changing business conditions.
- Operating Income
- Operating income exhibits positive surges in late 2017 through 2019, with a peak in the third quarter of 2018. However, starting in 2020, operating income turns negative, reaching significant losses in the first half of 2020, followed by sporadic losses and small gains through 2021 and into 2022, reflecting fluctuating profitability post-pandemic.
- Interest and Other Expenses
- Interest expense persists at a relatively stable and moderate level until early 2020, followed by a sharp increase coinciding with pandemic-related debt activity, including a documented loss on debt extinguishment in late 2020. Interest income remains low and stable throughout. Other net expenses are highly volatile, with large negative swings in 2020 and variable movements afterwards, suggesting fluctuating non-operating gains or costs.
- Income Before Taxes and Net Income
- Income before income taxes follows a broadly similar pattern to operating income, with positive results peaking between 2017 and 2019, then turning negative in 2020 with severe losses, partially recovering to mixed positive and negative quarters afterward. Provision for income taxes fluctuates but generally reflects the pre-tax income trajectory. Net income attributable to the company’s common stockholders experiences comparable trends: strong positive results before 2020, substantial losses in 2020, and a moderate but uneven recovery through early 2022.
- Additional Observations
- Restructuring and related charges are present mostly in 2019 and 2020, indicating cost-cutting or reorganization efforts during these years. A one-time, significant gain from sale of business is recorded in the first quarter of 2022, contributing positively to other income streams in that period. Legal reserves and related expenses fluctuate without a clear trend, suggesting periodic adjustments in these areas.