Sign up to create alerts for Instruments,
Economic Events and content by followed authors
Free Sign Up Already have an account? Sign In
Quotes
All Instrument Types
- All Instrument Types
- Indices
- Equities
- ETFs
- Funds
- Commodities
- Currencies
- Crypto
- Bonds
- Certificates
Please try another search
🚨 Our Pro Data Reveals the True Winner of Earnings Season Access Data
Expedia Earnings Miss in Q1 on Virus Hit to Travel, Tourism
© Reuters. Expedia Earnings, Revenue Miss in Q1
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
Related Articles
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
Add a Comment
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.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.