Online travel platform Expedia boosted its forecast for 2025 revenue growth, after beating Wall Street estimates for third-quarter profit, helped by strong demand from its business clients, sending its shares up nearly 10 per cent after the bell.
The Seattle-based company now expects annual revenue to grow between 6 per cent and 7 per cent, compared to an earlier forecast range of 3 per cent to 5 per cent.
Bookings in Expedia’s B2B segment, which caters to corporate travel management firms, offline travel agents and financial institutions, rose 26 per cent to $9.38 billion during the third quarter.
“Notably, we grew room nights in the U.S. at the fastest pace in over three years,” said Ariane Gorin, CEO of Expedia.
Meanwhile, bookings in Expedia’s direct-to-consumer segment, which includes its iconic Hotels.com and short-term rental platform Vrbo, rose 7 per cent to $21.34 billion.
Expedia posted a third-quarter adjusted profit of $7.57 per share compared with analysts’ estimate of $6.92 per share, according to LSEG compiled data.
Total gross bookings for the third quarter came in at $30.73 billion, up 12 per cent from last year.
Source: CNA
