{"id":4576,"date":"2023-05-05T10:10:43","date_gmt":"2023-05-05T14:10:43","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/booking-and-expedia-post-sales-surge-why-the-stocks-are-diverging\/"},"modified":"2023-05-05T10:10:44","modified_gmt":"2023-05-05T14:10:44","slug":"booking-and-expedia-post-sales-surge-why-the-stocks-are-diverging","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=4576","title":{"rendered":"Booking and Expedia Post Sales Surge. Why the Stocks Are Diverging."},"content":{"rendered":"
\n
<\/p>\n
<\/p>\n<\/figure><\/div>\n

\n Booking Holdings
\n and
\n Expedia
\n both reported strong revenue in the first quarter as bookings soared amid robust travel demand. However, the stocks were moving in opposite directions early Friday, with
\n Expedia
\n up around 6% and
\n Booking
\n down 3%.<\/p>\n

That may seem even stranger given that Booking (ticker: BKNG) beat earnings expectations while
\n Expedia
\n (EXPE) missed estimates.<\/p>\n

\n

But the bar for Booking was high headed into earnings\u2014the stock has risen nearly 30% this year and is trading close to all-time highs. Expedia, on the other hand, is up less than 2% as of Thursday\u2019s close, underperforming the
\n S&P 500.<\/span>\n <\/p>\n

Booking\u2019s adjusted earnings before interest, taxes, depreciation and amortization also missed expectations, another reason that investors were left slightly disappointed.<\/p>\n

Earnings from the online travel websites both add to the body of evidence that points toward surging summer travel demand.<\/p>\n

Expedia said total gross bookings rose 20% to $29.4 billion, while lodging bookings hit a record of $21.1 billion. Its quarterly revenue of $2.67 billion was also a first-quarter record for the company. \u201cThe first quarter saw strong travel demand driven by increasing international travel, major city travel, and the reopening in Asia,\u201d CEO Peter Kern said.\u00a0<\/p>\n

Booking reported a 44% year-over-year increase in gross travel bookings to $39.4 billion\u2014a quarterly record\u2014while revenue climbed 40% to $3.8 billion.\u00a0<\/p>\n

Booking reported adjusted earnings of $11.60 a share on sales of $3.78 billion in the first quarter. Analysts were expecting profit of $10.57 on sales of $3.74 billion.<\/p>\n

Expedia reported a loss of 20 cents a share on sales of $2.67 billion. The consensus was for a profit of 2 cents a share on sales of $2.66 billion.<\/p>\n

Write to Callum Keown at callum.keown@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Booking Holdings and Expedia both reported strong revenue in the first quarter as bookings soared amid robust travel demand. However, the stocks were moving in opposite directions early Friday, with Expedia up around 6% and Booking down 3%. That may seem even stranger given that Booking (ticker: BKNG) beat earnings expectations while Expedia (EXPE) missed […]<\/p>\n","protected":false},"author":1,"featured_media":4577,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-4576","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"\nBooking and Expedia Post Sales Surge. 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