Expedia stock soared Friday after the online travel agency booked a major Q3 earnings beat and record revenue for its late Thursday results.
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Seattle-based Expedia (EXPE) reported 33% adjusted earnings growth to $5.41 per share while revenue rose 9% to a record $3.93 billion.
Analysts polled by FactSet expected earnings of $5 per share on $3.86 billion in revenue.
Booked room nights increased 9% year-over-year to 89.3 million in Q3. Expedia reported lodging gross bookings climbed 8% to $18.5 billion, a record for third-quarter periods.
“Our strong third quarter results with record revenue and profitability came in ahead of our guidance and reflect the resilience of travel demand,” Expedia CEO Peter Kern said in the release.
Expedia noted it repurchased $1.8 billion in shares so far this year and authorized a new $5 billion-buyback program.
The company left unchanged its full-year guidance for double-digit topline growth and margin expansion.
Expedia Stock
EXPE stock spiked nearly 19% Friday to following its earnings report. Shares gained 1.7% Thursday as the stock feels for a bottom of a three-month consolidation.
Expedia stock has fallen from its late-July high of 122.59. The stock is up 28.7% so far this year.
You can follow Harrison Miller for more stock news and updates on X/Twitter @IBD_Harrison
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