On Thursday, Expedia reported quarterly earnings that lagged analysts' expectations.
The online travel company’s earnings came in at $3.38 a share for the third quarter, falling short of $3.82 estimate of analysts surveyed by Zacks Investment Research, and below $3.79-a-share estimate of analysts polled by FactSet. The figure is also lower than the year-ago quarter’s $3.65 a share.
Total revenue of $3.56 billion for the quarter missed the Zacks consensus estimate by -0.55%. But the figure is higher than the $3.28 billion the company reported during the same quarter in 2018.
Expedia’s operating income declined -9% year-over-year to $609 million.
Hotel bookings grew at +11% in the quarter, which is a slower rate compared to +13% a year before, as indicated by the company.