Corp 1000

Expedia rides ‘strong’ travel rebound to earnings beat

Expedia Group Inc. shares were headed 6% higher in after-hours trading Thursday after the online-travel company topped expectations with its latest results amid a strong rebound in travel. The company reported a net loss of $185 million, or $1.17 a share, compared with a loss of $301 million, or $2.02 a share, in the year-before quarter. Expedia reported adjusted earnings per share of $1.96, whereas it lost an adjusted $1.13 a share a year prior. Analysts tracked by FactSet were looking for $1.56 a share in adjusted earnings during the latest quarter. Revenue came in at $3.18 billion, up from $2.11 billion a year earlier and ahead of the FactSet consensus, which was for $2.99 billion. “Despite the disruptions during the summer travel season and an uncertain macroeconomic backdrop, travel demand has remained strong,” Chief Executive Peter Kern said in a release. Shares of Expedia have lost 32% over the past three months as the S&P 500 has lost 0.6%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit for more information on this news.

Leave a Reply

Your email address will not be published.

Previous post Virgin Galactic plans to sell more stock as cash reserves dwindle
Next post GoPro earnings top estimates, but executives warn of headwinds