Expedia Shares Surge 8% on Q3 Earnings Beat
Nov 8, 2024 12:49 PM - Davit Kirakosyan
Image credit: FMP
Expedia Group (NASDAQ:EXPE) saw its stock jump more than 8% in after-hours trading after reporting third-quarter earnings that exceeded analyst forecasts and issuing an optimistic full-year guidance.
The online travel giant posted adjusted earnings per share of $6.13, edging past the Street consensus estimate of $6.05, despite revenue slightly missing expectations at $4.06 billion against the projected $4.11 billion.
Key metrics showed strong momentum, with gross bookings increasing by 7% year-over-year to $27.5 billion. Room nights booked grew by 9% compared to the previous year, with mid-teens growth in Brand Expedia. Additionally, the company’s B2B segment delivered impressive results, with gross bookings rising 19% and revenue up 18% to $1.2 billion.
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