Expedia Group Inc. reported higher revenue and a narrower loss in the first quarter as demand stayed strong despite factors such as the Omicron variant and the war in Ukraine.
The online travel company
reported a loss of $122 million, or a loss of 78 cents a share, narrowing from a loss of $606 million, or a loss of $4.17 a share, in the same quarter a year ago. Adjusted losses were 47 cents a share. Analysts polled by FactSet expected adjusted losses of 48 cents a share.
Revenue rose to $2.25 billion from $1.25 billion. Analysts polled by FactSet expected $2.25 billion.
Gross bookings rose to $24.41 billion from $15.42 billion. Analysts polled by FactSet expected $25.89 billion.
“All in, while we are keeping an eye on various macro indicators including inflation and ongoing geopolitical tensions, we continue to see positive indicators for a strong recovery in leisure travel this summer,” Chief Executive Peter Kern said in prepared remarks.
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