Expedia Group Inc. reported fourth-quarter earnings that surpassed Wall Street expectations, with adjusted earnings per share of $2.39 on revenue of $3.18 billion, compared to analyst estimates of $2.04 per share on $3.07 billion in revenue. The company also saw a 124% increase in net income and a 30% rise in adjusted net income year-over-year. Adjusted EBITDA increased by 21% with a margin expansion of 175 basis points, while adjusted EBIT rose by 50% with a margin expansion of 282 basis points. Gross bookings for the quarter reached $24.42 billion, up 13% year-over-year, and booked room nights grew by 12% to 86.4 million. Expedia reinstated its quarterly dividend at 40 cents per share. Despite the strong performance, the company warned of softer demand in the near future due to inflation and high borrowing costs. Following the earnings release, Expedia's stock rose more than 10% after hours. Additionally, HSBC upgraded Expedia to a buy rating from hold, citing encouraging trends across leisure, B2B, advertising, and international sectors.