Expedia Group Reports Solid Q2 Results, But Sees Softening Travel Demand
Expedia Group Inc. (EXPE) reported its second-quarter financial results on Thursday, exceeding expectations with a 6% year-over-year increase in both total revenue and total gross bookings. The company saw strong growth in lodging bookings, with hotel bookings up 11% and room nights growing at the fastest rate since the first quarter of 2023.
However, Expedia CEO Ariane Gorin acknowledged a more challenging macro environment and softening travel demand in July. As a result, the company is adjusting its expectations for the rest of the year and did not provide forward guidance in its earnings release.
Despite the cautious outlook, Expedia shares rose 6.95% in after-hours trading to $126.17. The company is currently discussing its quarterly results on a conference call.