What's Going On With Expedia Stock?
Portfolio Pulse from Ryan Gustafson
Expedia Group, Inc. (NASDAQ:EXPE) shares are trading higher following better-than-expected Q3 financial results. The company reported earnings of $5.41 per share, beating the analyst consensus estimate of $4.93 per share. Revenue of $3.929 billion also topped the consensus estimate of $3.857 billion. Booked room nights increased 9% compared to the same period last year. The company reiterated its fiscal year guidance of double-digit topline growth and announced a $5 billion share repurchase authorization. The stock price was raised by two analysts.
November 07, 2023 | 8:16 pm
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POSITIVE IMPACT
Expedia's better-than-expected Q3 results and share repurchase authorization have driven the stock price up.
Expedia's Q3 results exceeded analyst expectations, which has led to a positive market reaction and an increase in the stock price. The announcement of a $5 billion share repurchase authorization also signals the company's confidence in its financial position, which is likely to further boost investor confidence.
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