Expedia Posts Earnings Beat While Warning of Soft Demand
- Company will adjust its expectations for the rest of the year
- Expedia’s second-quarter results topped analysts’ estimates
Seattle-based Expedia may serve as a health indicator for the broader US travel market, which has seen a leveling-off in growth after an initial post-pandemic travel boom.
Photographer: Tiffany Hagler-Geard/BloombergThis article is for subscribers only.
Expedia Group Inc. posted better-than-expected second-quarter results while warning of “softening” travel demand in the current quarter, leading it to adjust its expectations for the rest of the year.
Gross bookings across Expedia’s platforms, which include flight reservations, hotel stays, car rentals activities and vacation rentals, increased 6% to $28.8 billion in the three months ended June 30, the company said Thursday in a statement. Wall Street was expecting $28.6 billion, according to data compiled by Bloomberg.