Expedia Tops Profit Estimates Despite Omicron Disruption

Bloomberg2022-02-11

Expedia Group Inc. reported fourth-quarter profit that topped analysts’ estimates, benefiting from a holiday travel season that proved resilient despite the onset of the omicron Covid-19 variant.The ...

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Comments

Deonc
2022-02-11
Deonc
Good, please like and comment.
Jess261
2022-02-11
Jess261
Okay
TTTa
2022-02-11
TTTa
Hi
Sapi
2022-02-11
Sapi
Nice 👆
Ah Deck
2022-02-11
Ah Deck
Good pls like
Vicholes
2022-02-11
Vicholes
[Happy]

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Earnings per share, excluding certain costs, were $1.06 cents a share. Revenue more than doubled to $2.28 billion, while analysts were expecting $2.29 billion. Shares rose more than 5% in extended trading.“While we experienced yet another significant travel disruption from Covid this quarter, we were pleased to see that the impact was less severe and of shorter duration than previous waves,” Expedia Chief Executive Officer Peter Kern said in the statement. Kern said that the travel industry is more resilient during each wave and that he expects “a solid recovery in 2022,” provided the course of the virus remains the same.Expedia, which hosts reservations for traditional lodging like hotels and offers short-term rentals through its platform Vrbo, has been buffeted by the ebb and flow of the Covid-19 pandemic. 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Those expectations have pushed Expedia shares to a record high.“We believe this could be the beginning of a major upswing in travel bookings for the year given high pent-up demand,” Cowen Inc. analyst Kevin Kopelman wrote in a report.After the initial downturn in the early months of the pandemic, Expedia, like its rival Airbnb Inc., benefited as people took advantage of work-from-anywhere policies to explore other places. 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