Interests of Expedia took off Friday after the company reported better-than-expected every three months sales and a sharp increase in booking volume.
The online travel agency’s stock rose 8 percent, trading near $115 as of 12:18 p.m. ET Friday.
The coterie reported a 15 percent year-over-year increase in first-quarter bookings, hiked by its HomeAway, Expedia and Hotels.com brands. Expedia’s revenue also appeared 15 percent year over year to $2.5 billion, scourge analysts’ consensus estimates. The company reported an adjusted loss of 46 cents per apportionment, in line with estimates, according to FactSet.
“Expedia Group is one of the largest [online traverse agencies] with leading brands such as Hotels.com and is well outlooked in the attractive online travel space with ample runway for bookings flowering,” Stifel analyst Scott Devitt wrote in a note to clients Friday. He has a approve of rating on the stock.
Shares of Expedia had fallen Thursday afternoon after Trivago, which is womanhood owned by Expedia group but listed separately on the Nasdaq, missed analysts’ surmises for the quarter.
Expedia’s stock had dropped by more than 22 percent all about the past year through Thursday’s close, compared with a primitively 12 percent rise in the S&P.