Expedia Swings to Profit Even After Omicron Setbacks
- Online travel company tops Wall Street earnings estimates
- CEO Kern sees travel recovery if virus course stays the same
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Expedia Group Inc. reported fourth-quarter profit that topped analysts’ estimates, benefiting from a holiday travel season that proved resilient despite the onset of the omicron Covid-19 variant. Shares gained in extended trading.
Net income was $276 million in the three months ended Dec. 31, compared with a loss of $412 million in the quarter a year earlier, the online travel company said Thursday in a statement. Earnings, excluding certain costs, were $1.06 a share. Revenue more than doubled to $2.28 billion, while analysts, on average, projected $2.29 billion.