Expedia Shares Fall as Home-Rental Business Vrbo Goes Slow
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Expedia Group Inc. reported first-quarter revenue that missed analysts’ estimates, with growth in its Vrbo short-term rental business slowing for the second straight quarter. The shares fell more than 3 percent in extended trading.
Sales came in at $2.61 billion, up from $2.51 billion a year earlier, the company said in a statement. Wall Street was looking for $2.69 billion, according to data compiled by Bloomberg. Revenue growth from Vrbo slowed to 14 percent. Last quarter it came in at 20 percent, which was the lowest rate for 2018.