Expedia Group Experiences Significant Decline in Stock Value

Friday, 3 May 2024, 18:19

Expedia Group (NASDAQ: EXPE) reported strong first-quarter earnings but offered lower-than-expected guidance for the second quarter, resulting in a 13.4% drop in stock value. Despite revenue growth and improved earnings, the company faced challenges in bookings and Vrbo service growth, leading to a cautious outlook. CEO Peter Kern remains optimistic about the business's long-term prospects amidst the current setbacks.
https://store.livarava.com/30b43851-097a-11ef-a6c1-63e1980711b2.jpg
Expedia Group Experiences Significant Decline in Stock Value

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.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


Related posts


Newsletter

Get the most reliable and up-to-date financial news with our curated selections. Subscribe to our newsletter for convenient access and enhance your analytical work effortlessly.

Subscribe