Expedia profit misses as severe weather weighs on holiday quarter, shares fall
02/10/2023|8:19:10 AM|Reuters

Online travel booking company Expedia Group missed Wall Street estimates for fourth-quarter profit on Thursday, as severe weather conditions toward the end of the year hurt its business despite strong travel demand.

A harsh winter storm in December snarled airport operations around the United States leading to thousands of flight cancellations, spoiling holiday plans for travelers.

"While our Q4 results were negatively impacted by severe weather, demand was otherwise strong and accelerating," Expedia Chief Executive Officer Peter Kern said in the company's earnings release.

Expedia's revenue of $2.62 billion missed Street estimates of $2.7 billion.

Meanwhile, the Seattle-based company reported $20.5 billion in total gross bookings across its travel products including lodging and flights, up 17% a year prior.

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