2023-05-04 16:36:08 ET
Expedia Group ( NASDAQ: EXPE ) jumped in postmarket trading on Thursday after missing EPS expectations with its Q1 earnings report.
Gross bookings were up 20% from a year ago to $29.4B to edge past the consensus mark of $28.8B. Booked room nights increase 23% to 94.5M.
Expedia ( EXPE ) narrowed its operating loss to -$121M from -$135M a year ago. Adjusted EBITDA was up 7% to $185M vs. $173M and adjusted EPS improved to -$0.20 from -$0.47.
Adjusted EBITDA fell 6% year-over-year to $449M.
Net cash from operating activities rose 6% to $3.16B and free cash flow was 3% higher at $2,92B.
CEO Peter Kern: "The first quarter saw strong travel demand driven by increasing international travel, major city travel, and the reopening in Asia. We invested into that demand driving record lodging bookings and continued strength in app usage and loyalty member counts. We also saw strong growth in B2B driven by an expanding partner base and growth from our existing partners. Our performance was enhanced by greater testing velocity and accelerating deployment of AI and ML, including our recent integration of ChatGPT into our iOS experience," said Peter Kern, Vice Chairman and CEO, Expedia Group."
Shares of Expedia ( EXPE ) rallied 5.59% to $94.15 in postmarket trading vs. the 52-week range of $82.39 to $147.53.
More on Expedia:
- Expedia: Company Deep Dive, Intrinsic Valuation
- Read more breakdowns on Expedia from Seeking Alpha analysts
- View the growth metrics
- See the financial and valuation comparisons to sector peers
- Dig into the Seeking Alpha Quant Rating
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Expedia rallies after pointing to strong travel demand and AI boost