Expedia Group Experiences Significant Decline in Stock Value
Friday, 3 May 2024, 18:19
Expedia Group: Overview
Shares of Expedia Group (NASDAQ: EXPE) fell by 13.4% following lower guidance despite strong first-quarter results.
Financial Performance
- Revenue Growth: 8% increase to $2.89 billion.
- Bookings Growth: Slightly below expectations, indicating slowing summer growth.
- Gross Bookings: Rose by just 3% to $30.2 billion.
- Earnings: Adjusted EBITDA increased by 38% to $255 million.
The company's Vrbo vacation rental service faced challenges, causing a delay in its recovery post-replatforming.
CEO Peter Kern expressed confidence in long-term growth despite current setbacks.
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