financetom
Business
financetom
/
Business
/
Expedia beats second-quarter profit estimates on sustained international travel demand
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Expedia beats second-quarter profit estimates on sustained international travel demand
Aug 8, 2024 2:42 PM

Aug 8 (Reuters) - Online travel agency Expedia ( EXPE )

beat analysts' expectations on Thursday for second-quarter

profit, helped by sustained demand for international travel,

sending its shares up 7% after the bell.

"The travel environment was healthy in the second quarter

and like the last few quarters, we saw strong ongoing demand

internationally relative to the US," CEO Ariane Gorin said

during an investor call.

Expedia ( EXPE ), however, also warned that it saw a more challenging

macro environment and a softening in travel demand in July.

Many other travel companies, including rival Booking

and short-term rentals platform Airbnb ( ABNB ) have

mirrored this sentiment in their earnings reports, stating that

consumers are waiting longer to book vacations and growing

cautious about spending.

Expedia ( EXPE ) said it expects full-year revenue to grow 6%

year-over-year, within its previous forecast range, but lower

than analysts' estimates of 7.4%

It also forecast 2024 gross bookings growth at 4%

year-over-year, compared to Wall Street expectations of 6.3%.

The Seattle-based company reported a quarterly profit of

$3.51 per share, beating analysts' estimates of $3.06 per share.

Total revenue for quarter ended June 30 was $3.56 billion,

up 6% from a year earlier. Analysts, on average, were expecting

revenue of $3.53 billion in the second quarter, according to

LSEG data.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
What's Going On With Carvana Shares Today?
What's Going On With Carvana Shares Today?
Jun 13, 2025
Carvana Inc. shares are trading lower Friday following a wave of bearish options activity and a significant insider sale. What To Know: Despite recent strong financial performance and ongoing brand marketing efforts, large investors are showing caution. Data from Benzinga indicates a notable uptick in bearish sentiment among options traders, with 51% of 29 large trades identified as bearish, compared...
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Aug 17, 2025
SYDNEY, Aug 18 (Reuters) - Google agreed on Monday to pay a A$55 million ($35.8 million) fine in Australia after the consumer watchdog found it had hurt competition by paying the country's two largest telcos to pre-install its search application on Android phones, excluding rival search engines. The fine extends a bumpy period for the Alphabet-owned internet giant in Australia,...
UK's Spectris rejects second KKR takeover approach in favour of Advent's $5 billion proposal
UK's Spectris rejects second KKR takeover approach in favour of Advent's $5 billion proposal
Jun 13, 2025
June 13 (Reuters) - Britain's Spectris ( SEPJF ) said on Friday it has rejected a second takeover proposal from private equity firm KKR, days after the scientific instruments maker backed a possible competing $5 billion bid from Advent. Spectris ( SEPJF ) did not provide details on KKR's proposal, noting only that it was the second proposal by the...
KKR's Cash Bid Rejected by Spectris Board
KKR's Cash Bid Rejected by Spectris Board
Jun 13, 2025
02:02 PM EDT, 06/13/2025 (MT Newswires) -- KKR (KKR) submitted a preliminary cash offer to buy all shares of UK-based Spectris on June 5, but the board rejected the proposal, Spectris said in a statement Friday. This was KKR's second approach to Spectris, and the company has not received any new proposal since then, Spectris said. KKR has asked for...
Copyright 2023-2026 - www.financetom.com All Rights Reserved