This post was originally published on this sitehttps://i-invdn-com.akamaized.net/news/LYNXNPEC0Q0MJ_M.jpg
Investing.com – Expedia (NASDAQ:) said it expected to rein in costs after reporting fourth-quarter results on Thursday that beat on the bottom line but fell short of expectations on the top line.
Expedia (NASDAQ:) announced earnings per share of $1.24 on revenue of $2.75B. Analysts polled by Investing.com anticipated EPS of $1.19 on revenue of $2.76B. That with comparison to EPS of $1.18 on revenue of $2.56B in the same period a year before. Expedia had reported EPS of $3.38 on revenue of $3.56B in the previous quarter. Analysts are expecting EPS of $-0.28 and revenue of $2.82B in the upcoming quarter.
Gross bookings increased 6% in the quarter, driven primarily by growth in Expedia Partner Solutions, which includes the benefit from enterprise deals launched in late 2018, and Hotels.com.
Domestic gross bookings increased 7% and international gross bookings increased 4%.
Lodging revenue increased 9% in the fourth quarter on an 11% increase in room nights stayed, but that was partly offset by a 2% decrease in revenue per room night.
“We are targeting $300-to-500 million of run-rate cost savings across our business,” Expedia said.
Expedia shares are up 2.22% from the beginning of the year , still down 23.24% from its 52 week high of $144.00 set on July 26, 2019. They are under-performing the Nasdaq which is up 7.44% year to date.
Expedia shares gained 3.99% in after-hours trade after the report.
Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com’s earnings calendar
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.