Tech
Expedia quarterly revenue climbs 11% to $3.55B; shares fall 3%
Expedia Group topped estimates for its fourth quarter results, posting revenue of $3.55 billion, up 11% year-over-year, and adjusted earnings per share of $3.78. Analysts expected $3.41 billion in revenue and EPS of $3.37.
Gross bookings rose 11% to $27 billion, also beating expectations. Expedia’s B2B arm, meanwhile, remained a major growth engine. In the fourth quarter, B2B gross bookings jumped 24% from a year earlier, compared with 5% growth in the consumer-facing B2C segment.
Expedia CEO Ariane Gorin said the earnings reflect “disciplined execution of our strategic priorities in a healthy demand environment.”
Seattle-based Expedia recently laid off 162 workers in Washington state as part of its latest workforce reduction.
For the first quarter, the company expects gross bookings between $34.6 billion and $35.2 billion, up 10% to 12% year over year, and revenue between $3.32 billion and $3.37 billion, up 11% to 13%. The company’s full-year guidance is in line with estimates.
Shares fell more than 3% in after-hours trading.