Breaking News
Investing Pro 0
🚨 Our Pro Data Reveals the True Winner of Earnings Season Access Data

Expedia Earnings Miss in Q1 on Virus Hit to Travel, Tourism

Stock Markets May 20, 2020 04:06PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. Expedia Earnings, Revenue Miss in Q1
 
EXPE
-1.09%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 

Investing.com - Expedia (NASDAQ:EXPE) reported on Wednesday first-quarter results that fell short of expectations as coronavirus-led disruptions to travel and tourism weighed on bookings.

Expedia shares lost 0.82% in after-hours trade following the report.

Expedia announced earnings per share of $-1.83 on revenue of $2.21 billion. Analysts polled by Investing.com anticipated EPS of $-1.20 on revenue of $2.22 billion. That compared with an EPS of $-0.27 on revenue of $2.61 billion in the same period a year before. Expedia had reported EPS of $1.24 on revenue of $2.75 billion in the previous quarter. Analysts are expecting EPS of $-1.7 and revenue of $1.3 billion in the upcoming quarter.

Gross booking fell 39% in the quarter year on year, as agency bookings fell 43% and merchant bookings slipped 33%.

Lodging revenue fell 10% as room nights stayed slipped 14% year on year during the quarter. Air revenue slumped 56%, which the company blamed on a 41% decrease in revenue per ticket and a 26% decline in air tickets sold as the coronavirus pandemic brought travel to a standstill.

"Like all travel companies, Expedia Group suffered a major reduction in business since the onset of COVID-19. Fortunately, we were ahead of the game having implemented cost savings measures earlier this year, and with the added pressure from Covid-19 we accelerated and expanded our ambition on improving our long-term cost structure," said Vice Chairman and CEO Peter Kern in a statement.

Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com's earnings calendar

Expedia Earnings Miss in Q1 on Virus Hit to Travel, Tourism
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.
  • Any comment you publish, together with your investing.com profile, will be public on investing.com and may be indexed and available through third party search engines, such as Google.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email