The shares of Expedia Group, Inc. sank over 19% on Friday after the company released its earnings report for the fourth quarter of fiscal 2023.

The online travel and booking company reported that its gross bookings increased by 6% in the reported quarter, landing at $21.7 billion, but standing below $22 billion projected by analysts. The firm said its revenue reached $2.9 billion, surging 10% compared to the same period a year prior, while its diluted earnings per share plunged 17% year-over-year, to stand at $0.92. Additionally, the company announced that its CEO Peter Kern will step down and that the current President of Expedia for Business Ariane Gorin will replace him. The change will enter into effect on May 13.

Expedia's stock plummeted 19.18% at 12:09 pm ET, to sell for $128.88 apiece.