: Expedia’s stock is climbing after a big jump in quarterly revenue
Expedia Group Inc.’s EXPE stock initially sagged, then rebounded strongly and is now up more than 5% in extended trading Thursday after the online travel service reported a big jump in quarterly revenue. Expedia reported a fiscal first-quarter net loss of $145 million, or 95 cents a share, compared with a net loss of $122 million, or 78 cents a share, in the year-ago quarter. Adjusted earnings were a loss of 20 cents a share. Revenue soared to $2.67 billion from $2.25 billion a year ago. Analysts surveyed by FactSet had expected on average net earnings of 2 cents a share on revenue of $2.66 billion. Shares of Expedia have inched up 2% so far this year, while the broader S&P 500 index SPX has improved nearly 6%.
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