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Investing.com — Expedia reported Thursday third quarter results that beat analysts’ forecasts, but bookings fell short of estimates, exacerbating worries about demand just as a slowing global economy is expected to sap travel demand.
Expedia (NASDAQ:EXPE) slid more than 7% in afterhours trading following the report.
Expedia announced earnings per share of $4.05 on revenue of $3.62B. Analysts polled by Investing.com anticipated EPS of $4.02 on revenue of $3.56B.
“The third quarter marked another period of robust travel demand despite the uncertain macroeconomic environment,” the company said.
The beat on the top and bottom lines, however, were overshadowed by weaker than expected bookings in Q3.
Bookings in the third quarter rose 28% to $23.99 billion, though that was below analysts’ estimates for $25.1 billion.
