Expedia beats profit estimates and raises full-year outlook
The OTA beat earnings estimates and raised its 2024 bookings forecast to 5%, driven by strong international travel demand
Total gross bookings for the third quarter reached $27.5 billion, an increase of 7% year-on-year, with booked room nights increasing 9% to 97.4 million.
Key takeaways
- Quarterly revenues increased 3% year-on-year to $4.06 billion, slightly below the $4.11 billion forecast;
- International travel demand remained strong, particularly in the Asia-Pacific region, where cross-border travel was fueled by affluent Chinese consumers;
- CFO Julie Whalen plans to step down by mid-February 2025, following the recent transition of CEO leadership from Peter Kern to Ariane Gorin.
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