Scalper1 News
Expedia ( EXPE ) stock rocketed late Thursday after the No. 2 online travel firm topped Wall Street’s Q1 expectations on massive year-over-year boosts in room-night stays and gross bookings. In after-hours trading, Expedia stock was up more than 12%, rebounding from 0.7% decline in Thursday’s regular session, after No. 1 rival Priceline ( PCLN ), earlier in the day, announced its CEO had stepped down following an investigation into a relationship with an employee. Priceline stock closed down 2.7%, but buoyed somewhat late on Expedia’s coattails and was up 2% after hours. For Q1, Expedia reported $1.9 billion in sales, up 39% vs. the year-ago quarter, and 9 cents earnings per share minus items, swinging from a 3-cent per-share loss. Both metrics topped the consensus expectation of 28 analysts polled by Thomson Reuters for $1.8 billion and a 6-cent per-share loss. During Q1, room-night stays and gross bookings jumped by 42% and 32%, respectively, on a year-over-year basis, Expedia said. The company also completely migrated Orbitz.com and CheapTickets.com onto the Expedia platform. Expedia didn’t give Q2 guidance in its earnings release, but the consensus models $2.26 billion in sales and 98 cents EPS minus items, which would be up a respective 36% and 10% vs. the year-ago quarter. Scalper1 News
Scalper1 News