financetom
Business
financetom
/
Business
/
Expedia Group Q2 Earnings: Revenue Beat, EPS Beat, 'Softening' Travel Demand In July And More
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Expedia Group Q2 Earnings: Revenue Beat, EPS Beat, 'Softening' Travel Demand In July And More
Aug 8, 2024 3:21 PM

Expedia Group Inc ( EXPE ) shares are trading higher in Thursday’s after-hours session on the heels of the company’s second-quarter financial results. Here’s a look at the highlights from the quarter.

Q2 Revenue: $3.558 billion, versus estimates of $3.534 billion

Q2 EPS: $3.51, versus estimates of $3.06

Total revenue was up 6% on a year-over-year basis. Total gross bookings came in at $28.8 billion, also up 6% year-over-year.

Lodging gross bookings were up 8%, hotel bookings were up 11% and room nights growth accelerated more than 10%. Expedia ( EXPE ) noted that total room nights grew at the fastest rate since the first quarter of 2023.

“Our second quarter results came in at the high end of our expectations, with gross bookings and revenue growing 6%. We’re pleased with our momentum and the sequential improvement in our consumer brands. However, in July, we have seen a more challenging macro environment and a softening in travel demand. We are therefore adjusting our expectations for the rest of the year,” said Ariane Gorin, CEO of Expedia Group ( EXPE ).

Expedia ( EXPE ) did not provide forward guidance in the earnings release.

The company is currently discussing its quarterly results on a conference call that kicked off at 4:30 p.m. ET.

EXPE Price Action: Expedia ( EXPE ) shares were up 6.95% after hours at $126.17 at the time of writing, per Benzinga Pro.

Check This Out:

Unity Software Reports Q2 Results, CFO Transition, Reduced Guidance

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 >
Hong Kong-listed Samsonite plans dual listing in hunt for investors
Hong Kong-listed Samsonite plans dual listing in hunt for investors
Mar 21, 2024
(Reuters) -Luggage maker Samsonite International ( SMSOF ) on Friday said it plans to pursue a dual listing in addition to its listing on the Hong Kong Stock Exchange to increase the liquidity of its shares and reach investors in more markets. Samsonite ( SMSOF ) did not provide details of the exchanges it is considering for the second listing,...
Ecopetrol's Reficar refinery awarded nearly 20% of McDermott common capital, company says
Ecopetrol's Reficar refinery awarded nearly 20% of McDermott common capital, company says
Mar 21, 2024
BOGOTA, March 21 (Reuters) - The Reficar oil refinery belonging to Colombia's Ecopetrol was awarded 19.9% of the common capital in infrastructure firm McDermott in preferential shares by a judge in Amsterdam, Ecopetrol said in a statement on Thursday. The refinery is located in the Colombian city of Cartagena. ...
Oil eases on possible Gaza ceasefire, dollar strength
Oil eases on possible Gaza ceasefire, dollar strength
Mar 21, 2024
SINGAPORE (Reuters) -Oil prices slipped on Friday on the possibility of a nearing Gaza ceasefire that could ease geopolitical concerns in the Middle East, while a stronger dollar and faltering U.S. gasoline demand also weighed on prices. Brent crude futures fell 42 cents, or 0.5%, to $85.36 a barrel by 0203 GMT. U.S. crude futures shed 40 cents, or 0.5%,...
Meta's Instagram down for thousands, Downdetector shows
Meta's Instagram down for thousands, Downdetector shows
Mar 21, 2024
March 21 (Reuters) - Meta Platforms's ( META ) Instagram was down for thousands of users on Thursday, according to outage tracking website Downdetector.com. ...
Copyright 2023-2026 - www.financetom.com All Rights Reserved