Expedia Group Inc (NASDAQ:EXPE) shares were soaring as the company posted its latest quarterly earnings results after hours, which topped analysts’ expectations.
The travel company reported a net loss of $137 million, or 91 cents per share, which were steeper than the $86.1 million loss, or 57 cents per share, from the company’s year-ago quarter. On an adjusted basis, Expedia posted a loss of 46 cents per share, which was in line with analysts’ expectations of a loss of 46 cents per share, according to data compiled by FactSet.
On the revenue front, the travel site raked in $2.5 billion, a 15% increase compared to the year-ago quarter. The Wall Street consensus estimate called for revenue of $2.4 billion for the period, according to data compiled by FactSet.
Expedia’s gross bookings were up about 15% compared to the year-ago quarter to $27.2 billion, topping analysts’ outlook of $26.7 billion. Part of the company’s success came from a strong quarter from its subsidiary Trivago.
The site’s qualified referrals were up 18% compared to the year-ago quarter at 189.5 million, while its broadly stable revenues were down 3% compared to the year-ago quarter. “We are making improvements to our platform that we believe are improving the traffic quality generated for our advertisers and are generating qualified referrals, customers, bookings or revenue and profit for our advertisers at rates similar to or even greater than those in the past,” wrote Trivago.
EXPE shares were up nearly 7% after the bell on the company’s strong earnings results.