Expedia Jumps After Projecting ‘Double-Digit’ Profit Growth
- Revenue from vacation-rental unit Vrbo gains 13% in quarter
- Diller says no CEO search; he and Kern are running the company
Photographer: Andrew Harrer/Bloomberg
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Expedia Group Inc. gave a 2020 profit forecast for “double-digit” growth, topping analysts’ estimates and suggesting the company will be able to maintain bookings in the face of slowing global travel demand caused by the spreading coronavirus. Shares gained more than 10% in extended trading.
The online travel giant reported revenue gained 7.3% to $2.75 billion in the fourth quarter, just missing the $2.77 billion analysts’ projected. Gross bookings climbed 5.9% to $23.2 billion in the period ended Dec. 31, the Seattle-based company said Thursday in a statement.