Expedia Surges 8% on Q4 Beat, Dividend Reinstatement
Expedia (EXPE) reported Q4 results on Thursday that exceeded expectations, driven by robust international travel demand. The company's shares rallied nearly 8% in after-hours trading.
Cross-border travel in Southeast Asia has boosted prices for hotels and services, contributing to Expedia's strong performance. The company also reinstated its quarterly cash dividend and declared a first-quarter dividend of 40 cents per share.
In Europe, leisure travel remains buoyant, fueled by both domestic and long-haul trips from affluent American travelers. Expedia's integration of Vrbo and Hotels.com under the "One Key" platform has further enhanced its operations.
On an adjusted basis, Expedia earned $2.39 per share in Q4, surpassing the consensus estimate of $2.04. Total revenue climbed 10% to $3.18 billion, topping expectations of $3.07 billion.