Expedia Group (NASDAQ: EXPE) has reported its first-quarter financial results. The travel company’s revenues increased 18% year-over-year to $2.67 billion in the first three months of fiscal 2023.
Meanwhile, the company reported a net loss of $145 million or $0.95 per share for the most recent quarter, compared to a loss of $122 million or $0.78 per share in the first quarter of 2022. The adjusted loss was $0.20 per share, compared to a loss of $0.47 per share last year.
“The first quarter saw strong travel demand driven by increasing international travel, major city travel, and the reopening in Asia. We invested into that demand driving record lodging bookings and continued strength in app usage and loyalty member counts,” said Peter Kern, CEO of Expedia.