Shares of Expedia Group were down more than 8% in after-hours trading Thursday after the Seattle company missed expectations for its quarterly earnings and cited weaker-than-expected demand in the U.S.
- Expedia reported $2.98 billion in revenue, up 3% year-over-year, missing estimates of $3.01 billion. The company reported earnings per share of $0.40, which topped expectations.
- Expedia and other online travel companies are navigating potential impact from economic uncertainty. Overseas travel to the U.S. has reportedly declined since President Trump took office in January. There are also concerns about slower consumer spending.
- On a call with analysts Thursday, Expedia said inbound bookings for the U.S. from Canada fell nearly 30%.
- Expedia’s gross bookings were up 4% to $31.4 billion. B2C bookings were up 1%, while B2B bookings were up 14%.
