Expedia Group posted a $1.3 billion loss, its largest since the financial crisis of 11 years ago, as it also it suspended its dividend.
The company, which handles online travel bookings, said it will not pay a dividend again until the current financial crisis battering the travel industry has passed.
Most of the loss is due to the company writing down its estimated value going forward, a reduction in what is known as "goodwill" in accounting measures. Its adjusted net loss excluding special items came to $258 million.
Revenue at the company fell $400 million, or 15% to $2.2 billion.
Among the brands that Expedia operates are Expedia, Hotels.com, VRBO, Trivago, HomeAway, Orbitz, Travelocity, Hotwire, CheapTickets, CarRentals.com and CruiseShipCenters.