Expedia (NASDAQ:EXPE) unveiled its fourth-quarter earnings, surpassing expectations in terms of earnings per share and revenue. However, the company fell short in gross bookings and free cash flow, leading to a 15% decline in its stock pre-market today.

In the fourth quarter, the travel technology firm achieved an earnings per share (EPS) of $1.72, exceeding the consensus estimate of $1.67. Expedia’s revenue was reported at $2.89 billion, marginally higher than the expected $2.87 billion.

The company’s retail revenue reached $1.96 billion, reflecting a 4.5% increase year-over-year, though it did not meet the anticipated $2.01 billion. On the other hand, its business-to-business (B2B) segment experienced a significant 28% growth year-over-year, generating $864 million and surpassing the forecast of $809.7 million.

Expedia reported a negative free cash flow of $415 million for the quarter, indicating a 16% increase in cash burn from the previous year and considerably below the expected negative $192.6 million.

Additionally, the company’s gross bookings were $21.67 billion, falling short of the analysts’ target of $22 billion.

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