Expedia Group Inc. reported second-quarter revenue that topped analysts’ estimates, suggesting a solid start to the busiest travel season as voyagers shake off two years of Covid-19 restrictions. The shares jumped about 6% in extended trading after the report.
Sales at the Seattle-based company rose 51% from a year ago to $3.2 billion, beating the average analyst estimate of $2.99 billion. Gross bookings, which represent the total value of transactions booked, adjusted for cancellations and refunds, rose 26% to $26.1 billion, in line with analysts’ estimate.
“Despite the disruptions during the summer travel season and an uncertain macroeconomic backdrop, travel demand has remained strong,” Chief Executive Officer Peter Kern said in a statement.
Expedia reported 82.5 million room nights booked in the second quarter, compared with analysts’ estimates of 87.5 million.
Read original article