The Expedia Group Inc (indexP) of the growing stock, as the company released its latest quarterly report results after hours, which exceeded analysts ‘ expectations.
Travel company showed a net loss of $137 million, or 91 cents a share, which was steeper than the loss of $ 86.1 million., or 57 cents a share, from the year-ago quarter. On an adjusted basis, such as Expedia recorded a loss of $ 46 cents a share, matching analyst expectations of a loss of 46 cents a share, according to factset.
On the front of income, travel site earned $ 2.5 billion, which is 15% more compared to the same quarter last year. According to estimates wall Street consensus called for a profit of $ 2.4 billion. during the period, according to factset.
Gross bookings at Expedia have grown by about 15% compared to the same quarter of the previous year to 27.2 billion dollars, exceeding analysts ‘ forecast of $ 26.7 billion. Part of the success of the company came from a strong quarter from its subsidiaries trivago.
Qualified referrals rose by 18% compared to the same quarter last year to 189,5 million, while its stable revenues decreased by 3% compared to the same quarter last year. “We are improving our platform, which we believe improve the quality of the traffic generated for our advertisers and receive qualified referrals, customers, orders and profits for our advertisers at or even higher than in the past”, says trivago.
THE shares rose nearly 7% after the bell on strong financial results of the company.