Egencia's
gross bookings for the first quarter rose 15 percent year over year to $2.08
billion, parent company Expedia Group reported Thursday. Expedia CEO Mark
Okerstrom said it was the first time Egencia's quarterly bookings exceeded $2
billion. For
the three months ending March 31, Egencia's revenue rose 23 percent year over
year to $151 million, while adjusted earnings before interest, taxes, depreciation
and amortization fell 2 percent to $27 million. Expedia Group stated it
incurred higher expenses at Egencia as it increased headcount in sales. "We posted another
quarter of over 20 percent year-over-year growth in new client signings as the
investments we've made in Egencia's sales team over the past year continue to
pay dividends," Okerstrom said during a quarterly earnings call Thursday.
"We have good momentum in this business, a healthy sales pipeline and
we're progressing well towards hitting our ambitious goals for Egencia."