Expedia Group’s shares climbed on Friday, as it posted first quarter results better than expected by analysts.
The online travel booking company’s adjusted loss came in at -$2.02 a share, compared to a loss of -$2.30 a share anticipated by analysts polled by Factset. The adjusted loss was -$1.83 a share in the year-ago period.
Revenue fell to $1.25 billion from $2.21 billion in the year-ago quarter, amid COVID-19 pandemic’s effect on traveling. But the figure beat that $1.11 billion that analysts surveyed by FactSet had expected.
“Travel remains a study in contrasts – with strong vacation rental growth and demand for domestic travel continuing to drive us forward, while demand for international and business travel and conventional lodging remain challenged,” said Expedia Chief Executive Peter Kern. “As the vaccine rollout continues, we expect to see a now familiar story play out; domestic and leisure demand lead the recovery. However, as the dire situation in India reminds us, in some markets, things may get worse before they get better.”