Expedia Group Inc (EXPE) stock lost 3.57% in the normal trading on Thursday, May 6, 2021, and closed at $164.82 per share. EXPE performed well in the after-market session and gained 4.81% to close the day at $172.75 per share.
EXPE shares have soared 156.01% over the last 12 months, and they have lost 7.34% in the past week. Over the past three months, the stock has gained 16.14%, while over the past six months, it has climbed 66.82%.
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Let’s see what’s going on with Expedia
Financial results announcement
On May 3, 2021, Expedia Group Inc. released its financial results for the first quarter of 2021 which ended on March 31, 2021.
Q1 2021 financial highlights
- Expedia Group revenue for Q1 2021 was $1,246 million compared to $2,209 million in Q1 2020.
- Operating income (loss) was $369 million in Q1 2021, compared to $1,294 million in the same quarter last year.
- Total (GAAP) costs and expenses were $1,378 million in Q1 2021 compared to $ 2,334 million in Q1 2020.
- Net income (loss) attributable to Expedia Group common stockholders was $606 million or diluted earnings (loss) per share of $4.17 in the first quarter of 2021 compared to $1,301 million or diluted earnings (loss) per share of $9.24 in Q1 2021.
- Expedia Group adjusted EBITDA was $58 million in Q1 2021 compared to $76 million in the first quarter of 2020.
- was $294 million Adjusted net income (loss) in Q1 2021 compared to adjusted net income (loss) of $258 million in Q1 2020.
Expedia teamed up with Joe Jonas to help travelers
OnMay 4, 2021, Expediareleased its travel companions report in collaboration with Jonas which revealed that 80% of American adults feel stress when thinking about booking international trips and 60% asked for help in booking a trip compared to pre-COVID.
So based on the report’s statistics, Expedia and Joe Jonas teamed up to offer travelers an actual helping hand to help reduce stress as they make their way back out there.
American Express Venture to Buy Expedia Corporate-Travel Unit
On May 4, 2021, the news came to market that American Express Global Business Travel (GBT) is planning to acquire Egencia, which is the corporate travel arm of Expedia.
According to the proposed agreement, Expedia will become a shareholder and will enter into a long-term commercial agreement with Global Business Travel, both companies said in a statement.
Previously, Bloomberg News reported that Carlyle Group was looking to buy a 20% stake in the joint venture but pulled out due to the COVID-19 pandemic.
Conclusion
People are returning towards traveling after getting a vaccination and Expedia is hopeful to perform well in the next quarters. The recent spike in after-market session was due to its improved financial results in the pandemic and investors are betting on the early return of international travel return.
