Shares of Expedia tanked more than 7 percent after hours after the company’s third quarter 2017 earnings failed to meet expectations.
Expedia reported earnings per share of $2.51 on $2.97 billion in revenue for the quarter, missing estimates of $2.62 earnings per share on $2.98 billion in revenue. Quarterly revenue was up 15 percent year-on-year, however. Bookings increased 11 percent year-on-year. Gross bookings jumped 11 percent year-on-year to $22.2 billion.
This is the first earnings report since Dara Khosrowshahi left to serve as the CEO of Uber.
Expedia said it estimates a “negative impact of approximately $15 million to $20 million from the recent natural disasters,” referring to hurricanes that wreaked havoc in popular tourist destinations in recent months.
Source: Tech CNBC
Expedia tanks after missing estimates