Why Expedia Shares Are Rising After Hours

Expedia Group Inc EXPE shares are trading higher in Monday's after-hours session after the company announced better-than-expected financial results.

Expedia reported first-quarter revenue of $2.25 billion, which beat the $2.23 billion estimate, according to data from Benzinga Pro.  The company said gross bookings totaled $24.4 billion during the quarter, which was up 58% year-over-year. 

Expedia reported a first-quarter earnings loss of 47 cents per share, which beat the estimate for a loss of 58 cents per share.

"There was early impact from Omicron leftover from late last year, which faded as the turnaround in demand reached new highs since the start of Covid. While the war in Ukraine did slow some of the recovery in Europe, there too we see travel at new highs since the start of the pandemic," said Peter Kern, vice chairman and CEO of Expedia.

EXPE 52-Week Range: $136.77 - $217.72

The stock was up 1.54% in after hours at $177.50 at press time. 

Photo: Viaggio Routard from Flickr.

Posted In: Peter Kernwhy it's movingEarningsNewsMoversTrading Ideas

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