Categories AlphaGraphs, Earnings, Other Industries

Expedia Q2 profit beats estimates

Expedia Group (NASDAQ: EXPE) reported a 29% jump in adjusted earnings for the second quarter of 2019 as growth in Expedia Partner Solutions, Brand Expedia and Vrbo drove total revenues higher by 9%. The results exceeded analysts’ expectations.

Net income attributable to the company soared to $183 million or $1.21 per share from $1 million or $0.01 per share in the previous year quarter. On a non-GAAP basis, earnings climbed by 29% to $1.77 per share.

Revenue grew by 9% to $3.15 billion. The positive top-line performance reflects contributions from Expedia Partner Solutions, Brand Expedia, and Vrbo. Domestic revenue increased by 13% and international revenue rose by 5%.

Expedia Q2 earnings report

During the quarter, gross bookings increased 9% and total stayed lodging room nights grew 12%. As of June 30, 2019, the company has nearly 1.3 million properties available on its core lodging platform, including about 570,000 integrated Vrbo listings.

As a percentage of total worldwide revenue in the second quarter of 2019, lodging accounted for 71%, advertising and media accounted for 9%, air accounted for 7% and all other revenues accounted for the balance 13%.

As on June 30, 2019, cash, cash equivalents, restricted cash and short-term investments totaled $5.5 billion. For the first half ended June 30, 2019, cash provided by operating activities was $3.3 billion and free cash flow totaled $2.7 billion. Both measures include $2.7 billion from net changes in operating assets and liabilities, primarily driven by growth in deferred merchant bookings.

Also read: Why Analog Devices stock soared to a record high

On June 13, the company paid a quarterly dividend of $0.32 per common share. Also, in July 2019, the executive committee of the board approved an increase to the divdend for an eighth consecutive year. The committee declared a quarterly cash dividend of $0.34 per share of outstanding common stock. The dividend will be paid on September 12, 2019, to stockholders of record on August 22, 2019.

Expedia’s competitor TripAdvisor (NASDAQ: TRIP) is scheduled to publish second-quarter results on August 8, before the opening bell. It is widely expected that earnings will jump by 24% to $0.51 per share on revenues of $445.67 million.

Shares of Expedia ended Thursday’s regular session up 0.28% at $138.21 on the Nasdaq. Following the earnings release, the stock rose over 3% in the after-market session.

We’re on Apple News! Follow us to receive the latest stock market, earnings, and financial news at your fingertips

Most Popular

CL Earnings: Key quarterly highlights from Colgate-Palmolive Company’s Q4 2022 financial results

Colgate-Palmolive Company (NYSE: CL) reported fourth quarter 2022 earnings results today. Net sales increased 5% year-over-year to $4.62 billion. Organic sales growth was 8.5%. Net income attributable to Colgate-Palmolive Company was

Key highlights from Chevron Corporation’s (CVX) Q4 2022 earnings results

Chevron Corporation (NYSE: CVX) reported fourth quarter 2022 earnings results today. Total revenues and other income were $56.4 billion compared to $48.1 billion in the year-ago period. Net income attributable

AXP Earnings: All you need to know about American Express’ Q4 2022 earnings results

American Express Company (NYSE: AXP) reported fourth quarter 2022 earnings results. Consolidated total revenues net of interest expense were $14.2 billion, up 17% from a year ago. Net income was

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top