Expedia Warns Of Lower Travel Demand But Stock Rises 7% After Q2 Earnings

Expedia Group topped expectations for its second quarter, with $3.6 billion in revenue, up 6% year-over-year, and profits of $386 million. Gross bookings reached $28.8 million, up 6%.

Expedia’s stock fell initially after market close on Thursday but was up more than 7% later in after-hours trading.

The Seattle-based company cautioned investors that it saw “a softening in travel demand” in July, causing it to adjust expectations for the rest of the year.

Other travel giants such as Airbnb and Booking Holdings have also pointed to lower travel demand. Airbnb stock fell 14% earlier this week.

Expedia’s new CEO, Ariane Gorin, started in her new role earlier this year. Gorin, a longtime Expedia leader, replaced former CEO Peter Kern as part of a move announced in February.