Expedia Group Inc. turned a profit for the third quarter, driven by the performance of its Vrbo business, domestic travel and improvements across “virtually all” lines of business despite continued volatility in travel recovery, said Peter Kern, the company’s vice chairman and chief executive.
The online travel agency on Thursday posted net income attributable to the company of $376 million, compared with a loss of $192 million in the year-ago period. Earnings were $2.26 a share, compared with a loss of $1.56 a share in the same period last year.
Adjusted earnings were $3.53 a share. Analysts polled by Factset were expecting $1.68 a share.
Revenue rose to $2.96 billion from $1.5 billion. Analysts were looking for $2.72 billion.
“With early positive signs in Q4 and many countries announcing new openings to international travelers, we are feeling increasingly confident about a continued recovery,” Kern said.
Expedia
EXPE,
shares gained more than 7% in after-hours trading following the announcement.
Write to Dave Sebastian at dave.sebastian@wsj.com
This post was originally published on Market Watch
