Travel company Expedia Group Inc (NASDAQ:EXPE) reported second-quarter financial results that beat analyst estimates and company guidance Thursday after market close.
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What Happened: Expedia reported second-quarter revenue of $3.79 billion, up 6% year-over-year. The revenue beat a Street consensus estimate of $3.70 billion, according to data from Benzinga Pro.
Earnings per share of $4.24 beat a Street consensus estimate of $3.90.
Expedia reported booked room nights of 105.5 million, up 7% year-over-year. The company said this was primarily driven by growth outside the U.S.
Total gross bookings were $30.4 billion for the quarter, up 5% year-over-year. Lodging gross bookings were up 6% year-over-year and hotel bookings were up 8% year-over-year.
The company repurchased 3.8 million shares worth $627 million in the second quarter.
"We delivered a solid second quarter, surpassing our top and bottom line expectations while navigating a dynamic environment," Expedia Group CEO Ariane Gorin said.
What's Next: The company raised its full-year guidance to a new range of $14.10 billion to $14.38 billion. The Street consensus estimate if $14.15 billion according to data from Benzinga Pro.
For the third quarter, the company sees revenue coming in a range of $4.22 billion to $4.30 billion.
"We will continue to capitalize on our brands, supply, and technology to help travelers create memories and partners grow their businesses," Gorin said.
EXPE Price Action: Expedia stock is up 15.56% to $216.81 in after-hours trading Thursday versus a 52-week trading range of $112.68 to $207.73. Shares could open Friday at all-time highs.
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Photo: Bangla press via Shutterstock
