Expedia is riding a ‘strong’ travel rebound to the pace of earnings

Shares of Expedia Group Inc

There was a 6% rise in after-hours trading on Thursday after the online travel company beat expectations with its latest results amid a strong recovery in travel. The company reported a net loss of $185 million, or $1.17 per share, compared to a loss of $301 million, or $2.02 per share, in the corresponding quarter last year. Expedia reported adjusted earnings per share of $1.96, while it lost an adjusted $1.13 per share a year earlier. Analysts following FactSet were looking for $1.56 per share in adjusted earnings during the most recent quarter. Revenues came in at $3.18 billion, up from $2.11 billion a year earlier and ahead of the FactSet consensus of $2.99 ​​billion. “Despite disruptions during the summer travel season and an uncertain macroeconomic backdrop, demand for travel remains strong,” CEO Peter Kern said in a statement. Expedia shares have lost 32% in the past three months as has the S&P 500

lost 0.6%.

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