By Owen Tucker-Smith
Expedia shares closed at their highest level since February 2022 after the travel-bookings company reported strong earnings in the fourth quarter and announced that it will bring back its dividend in March.
The company's stock was the strongest S&P 500 performer during Friday trading, climbing 17%. Its stock has risen for three consecutive days and is up 31% over the past year.
-- Expedia saw double-digit growth in room nights, gross bookings and revenue in the fourth quarter, with earnings beating Wall Street expectations. The company also reported growth in its business-to-business segment.
-- TD Cowen analysts noted that the quarter was Expedia's "best quarter in memory," pointing to "very successful" post-Thanksgiving promotions and improvement in the company's Vrbo business as key growth drivers.
-- Some analysts raised an eyebrow at the company's muted 2025 outlook, which indicated a bookings deceleration in the first quarter. The company said that December promotions may have pulled first-quarter bookings into the fourth quarter.
Chief Executive Ariane Gorin told investors that Expedia had only "scratched the surface" of its AI potential, noting that "we'll continue to test and release AI-generated features to further personalize our traveler experience."
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(END) Dow Jones Newswires
February 07, 2025 17:20 ET (22:20 GMT)
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