Expedia Stock Trades Down On Q1 Revenue Miss: 'Weaker Than Expected Demand In The US'

Travel company Expedia Group Inc EXPE reported first-quarter financial results after market close Thursday.

Here are the key highlights.

What Happened: Expedia reported first-quarter revenue of $2.99 billion, up 3% year-over-year. The revenue total missed a Street consensus estimate of $3.01 billion according to data from Benzinga Pro.

The company said revenue growth came from B2B and Advertising segments, which were up 14% and 20%, respectively, on a year-over-year basis.

The company reported quarterly earnings per share of 40 cents, which beat a Street consensus estimate of 29 cents per share.

Expedia said booked room nights were up 6% year-over-year in the first quarter, despite "softened travel demand within and into the U.S." Lodging gross bookings were up 5% year-over-year in the quarter.

Total gross bookings were up 4% year-over-year in the first quarter.

"We posted first quarter bookings and revenue within our guidance range despite weaker-than-expected demand in the U.S., drove bottom-line meaningfully above our guidance, and made significant progress against our strategic priorities," Expedia Group CEO Ariane Gorin said.

Gorin said the company expects to deliver margin expansion and grow top-line revenue in the future.

EXPE Price Action: Expedia stock is down 6.88% to $157.36 in after-hours trading Thursday, versus a 52-week trading range of $107.25 to $207.73.

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