Expedia Group Stock Travels Higher After Q3 Results, Share Repurchase Announcement
Portfolio Pulse from Erica Kollmann
Expedia Group, Inc. (NASDAQ:EXPE) reported better-than-expected Q3 results and announced a $5 billion share repurchase authorization. The company reported adjusted earnings of $5.41 per share, beating the analyst consensus estimate of $4.93 per share, and quarterly revenue of $3.929 billion, beating the consensus estimate of $3.857 billion. Booked room nights were up 9% YoY and the company reiterated its fiscal year guidance of double-digit topline growth. Shares are trading higher by 8.6% after hours.
November 02, 2023 | 9:15 pm
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Expedia's better-than-expected Q3 results and $5 billion share repurchase announcement have led to an increase in its stock price.
Expedia's Q3 results exceeded analyst expectations, which is a positive signal to investors about the company's performance. Additionally, the announcement of a $5 billion share repurchase indicates the company's confidence in its stock, which can also boost investor confidence and drive up the stock price.
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