Expedia Inc. (NASDAQ:EXPE) Q4 2015 Earnings Conference Call - Final Transcript

Feb 10, 2016 • 04:30 pm ET

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Expedia Inc. (NASDAQ:EXPE) Q4 2015 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Good day and welcome to the Expedia's Q4 2015 Earnings Call. Today's conference is being recorded.

At this time, I would like to turn the conference over to Alan Pickerill, Vice President, Investor Relations at Expedia. Please go ahead, sir.

Executive
Alan Pickerill

Thank you. Good afternoon, everybody, and welcome to Expedia, Inc.'s financial results conference call for the fourth quarter and the full year ended December 31, 2015. Pleased to be joined on the call today by Dara Khosrowshahi, Expedia's CEO and President; and Mark Okerstrom, our CFO and EVP Operations. The following discussion, including responses to your questions, reflects management's views as of today, February 10, 2016 only. We do not undertake any obligation to update or revise this information.

As always, some of the statements made on today's call are forward-looking, typically preceded by words such as we expect, we believe, we anticipate or similar statements. Please refer to today's press release and the Company's filings with the SEC for information about factors, which could cause our actual results to differ materially from these forward-looking statements.

You will find reconciliations of our non-GAAP measures to the most comparable GAAP measures discussed today in our earnings release, which is posted on the Company's IR website at ir.expediainc.com. I encourage you to periodically visit our Investor Relations site for important content, including today's earnings release and an updated investor deck.

As a reminder, we sold our 62.4% ownership stake in eLong on May 22, 2015, which was previously a consolidated entity of Expedia, Inc. For GAAP accounting purposes, the results of eLong are included in our results through the date of the sale. But in order to allow investors to compare our current results on a like-for-like basis with our historical results, our commentary in the earnings release and on this call is principally focused on our results excluding eLong, which should be considered in addition to the GAAP results on a fully consolidated basis.

Finally, unless otherwise stated, all references to cost of revenue, selling and marketing expense, general and administrative expense and technology and content expense also exclude stock-based compensation and depreciation expense. And all comparisons on this call will be against our results for the comparable period of 2014.

And with that, let me turn the call over to Dara.

Executive
Dara Khosrowshahi

Thanks, Alan. I wanted to start right upfront thanking our employees all over the world for another strong year for Expedia, Inc. Mark, Alan and I get to tell you about and take pubic credit for the success of our Company, but it's an amalgamation of everyone's dedication and good work that adds up to the figures that we'll review today.

And the figures tell a consistently strong story. Gross bookings for 2015, up 24% to $59.7 billion and total revenue up 19% to $6.6 billion. Our customers bought 35% more airline tickets, 36% more room nights totaling more than $200 million for the year and 37% more car days in 2015 versus 2014. We delivered nearly $1.2 billion of