Expedia Group Inc (NASDAQ:EXPE) is trading higher Friday morning after the company announced better-than-expected earnings results.
Expedia reported quarterly revenue of $2.28 billion, which came in below the $2.31 billion estimate. The company reported adjusted earnings of $1.06 per share, which beat the estimate of 67 cents per share. Adjusted EBITDA was $479 million, the highest fourth-quarter EBITDA in Expedia's history.
"While we experienced yet another significant travel disruption from COVID this quarter, we were pleased to see that the impact was less severe and of shorter duration than previous waves. Notably, the travel industry and traveling public prove more resilient with each passing wave, and we continue to expect a solid overall recovery in 2022, barring a change in the trajectory of the virus," said Peter Kern, vice chairman and CEO of Expedia.
- Barclays analyst Mario Lu maintained Expedia with an Overweight rating and raised the price target from $210 to $226.
- Credit Suisse analyst Stephen Ju maintained Expedia with an Outperform rating and raised the price target from $205 to $231.
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EXPE Price Action: Expedia has a 52-week low of $136.77 and a 52-week high of $201.92.
The stock was up 6.7% at $210.75 at time of publication.
Photo: blende12 from Pixabay.
