Expedia Facing Worst Day in More Than 4 Years
Shares of Expedia (EXPE) - Get Expedia Group, Inc. Report fell sharply late Thursday after the online travel giant missed Wall Street's earnings and revenue expectations.
The stock fell $21.10, or 14.27%, to $126.80 in after-hours trading, according to FactSet data.
Expedia said it made $2.51 a share in the latest quarter, versus analyst estimates of $2.61. The company reported revenue of $2.97 billion compared with estimates of $2.98 billion.
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Expedia said natural disasters, including several hurricanes during the quarter, cut into adjusted EBITDA by between $15 million and $20 million.
Should the overnight declines hold, Expedia stock will be facing its biggest percentage decline since July 26, 2013 when it lost 27.4% on another disappointing earnings day.
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