Expedia Group (NASDAQ: EXPE) reported fourth-quarter 2020 financial results after the regular market hours on Thursday. The travel company reported fourth-quarter revenue of $920 million, down 67% year-over-year and below the Wall Street projection. Net loss of $2.64 per share was also wider than what analysts had anticipated.
EXPE shares fell 2.6% immediately following the announcement. The stock has increased over 36% over the past 12 months.
CEO Peter Kern said, “The fourth quarter brought signs of hope in the form of vaccine approvals, but rising cases across the globe and rolling shutdowns of various travel markets made an impact. As a result, Q4 did not show any real sequential progress other than some signs of modest improvement around the holidays that carried into the early part of 2021.”