Shares of Expedia Group Inc. (NASDAQ: EXPE) surged 13.58% in after-hours trading on Thursday, following the company's impressive fourth-quarter earnings report and an optimistic outlook for the travel industry.

The online travel booking platform reported better-than-expected fourth-quarter results, with revenue of $3.18 billion, surpassing analysts' estimates of $3.07 billion. Adjusted earnings per share came in at $2.39, exceeding the consensus estimate of $2.04. The company's adjusted EBITDA of $643 million also exceeded expectations of $570.9 million.

Expedia's strong performance was driven by robust travel demand, particularly in the international market. The company reported a 12% year-over-year increase in booked room nights, reaching 86.4 million for the quarter. Gross bookings grew by 13%, totaling $24.4 billion.

Ariane Gorin, CEO of Expedia Group, highlighted the company's execution and the better-than-expected travel demand, stating, "Our fourth quarter results exceeded our expectations and reflect continued strong execution and better-than-expected travel demand. All three of our core consumer brands achieved bookings growth and we further accelerated growth in our B2B business."

The company's positive results and outlook for the travel industry have bolstered investor confidence, driving the significant after-hours surge in Expedia's stock price. Analysts believe that the pent-up demand for travel, coupled with Expedia's strategic initiatives, positions the company for continued growth in the coming quarters.