Expedia Group (NASDAQ: EXPE) reported first-quarter 2022 financial results. The travel company’s revenues jumped 81% year-over-year to $2.25 billion in the first three months of fiscal 2022.
It reported a net loss of $122 million or $0.78 per share for the most recent quarter, compared to a loss of $606 million or $4.17 per share in the first quarter of 2021. On an adjusted basis, it was a net loss of $0.47 per share, compared to last year’s loss of $2.02 per share.
“As we have seen many times during Covid, this quarter was a tale of two stories. There was early impact from Omicron leftover from late last year, which faded as the turnaround in demand reached new highs since the start of Covid. While the war in Ukraine did slow some of the recovery in Europe, there too we see travel at new highs since the start of the pandemic,” said Peter KernCEO of Expedia Group.