Categories AlphaGraphs, Earnings, Other Industries

Expedia Q2 profit beats estimates

Expedia Group (NASDAQ: EXPE) reported a 29% jump in adjusted earnings for the second quarter of 2019 as growth in Expedia Partner Solutions, Brand Expedia and Vrbo drove total revenues higher by 9%. The results exceeded analysts’ expectations.

Net income attributable to the company soared to $183 million or $1.21 per share from $1 million or $0.01 per share in the previous year quarter. On a non-GAAP basis, earnings climbed by 29% to $1.77 per share.

Revenue grew by 9% to $3.15 billion. The positive top-line performance reflects contributions from Expedia Partner Solutions, Brand Expedia, and Vrbo. Domestic revenue increased by 13% and international revenue rose by 5%.

Expedia Q2 earnings report

During the quarter, gross bookings increased 9% and total stayed lodging room nights grew 12%. As of June 30, 2019, the company has nearly 1.3 million properties available on its core lodging platform, including about 570,000 integrated Vrbo listings.

As a percentage of total worldwide revenue in the second quarter of 2019, lodging accounted for 71%, advertising and media accounted for 9%, air accounted for 7% and all other revenues accounted for the balance 13%.

As on June 30, 2019, cash, cash equivalents, restricted cash and short-term investments totaled $5.5 billion. For the first half ended June 30, 2019, cash provided by operating activities was $3.3 billion and free cash flow totaled $2.7 billion. Both measures include $2.7 billion from net changes in operating assets and liabilities, primarily driven by growth in deferred merchant bookings.

Also read: Why Analog Devices stock soared to a record high

On June 13, the company paid a quarterly dividend of $0.32 per common share. Also, in July 2019, the executive committee of the board approved an increase to the divdend for an eighth consecutive year. The committee declared a quarterly cash dividend of $0.34 per share of outstanding common stock. The dividend will be paid on September 12, 2019, to stockholders of record on August 22, 2019.

Expedia’s competitor TripAdvisor (NASDAQ: TRIP) is scheduled to publish second-quarter results on August 8, before the opening bell. It is widely expected that earnings will jump by 24% to $0.51 per share on revenues of $445.67 million.

Shares of Expedia ended Thursday’s regular session up 0.28% at $138.21 on the Nasdaq. Following the earnings release, the stock rose over 3% in the after-market session.

We’re on Apple News! Follow us to receive the latest stock market, earnings, and financial news at your fingertips

Most Popular

Does Unity Software (U) stock has more room to run?

Last month, the IPO market was in a full swing. IPOs of Snowflake (NYSE: SNOW) and JFROG (NASDAQ: FROG) had an impressive opening day in September, the former creating a

PepsiCo (PEP): Steady snacking habits amid pandemic drive strong quarter for beverage giant

PepsiCo Inc. (NASDAQ: PEP) beat market expectations on both revenue and earnings for the third quarter of 2020. The company saw the momentum continue in its snacks business while the

Does the virus-driven boom make Electronic Arts (EA) a good investment?

With more and more people turning to virtual entertainment sources, amid the virus-related movement restrictions, video game publishers like Electronic Arts (NASDAQ: EA) are witnessing unusually high demand. Not surprisingly,

One thought on “Expedia Q2 profit beats estimates

Comments are closed.

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top