HomeFinancial MarketsHere is why Expedia Group Inc. (EXPE) stock turnaround in the after-hours...

Here is why Expedia Group Inc. (EXPE) stock turnaround in the after-hours on Thursday?

Expedia Group Inc. (EXPE) shares gained 12.25% in after-hours on Thursday, November 04, 2021, and closed the daily trading at $176.85. However, in the regular trading session, EXPE’s stock lost 2.90%. EXPE shares have risen 59.95% over the last 12 months, and they have moved down 4.08% in the past week. Over the past three months, the stock has gained 5.82%, while over the past six months, it has declined 9.17%.

Let’s have a brief look at its recent news.


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EXPE latest announcement

On November 04, 2021, Expedia Group, Inc. (EXPE) announced financial results today for the third quarter ended September 30, 2021.

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Q3 2021 financial highlights

  • EXPE reported total revenue of $2.96 billion in Q3 2021 compared to $1.5 billion in Q3 2020.
  • Total cost and expenses were $2.21 billion in Q3 2021 compared to $1.26 billion in Q3 2020.
  • It earned a net income of $362 million in Q3 2021 compared to a net loss of $221 million in Q3 2020.
  • Adjusted EBITDA was $855 million in Q3 2021 compared to $304 million in Q3 2020.
  • The company ended the quarter with cash, cash equivalents, and short-term investments of $5.0 billion compared to $5.5 billion on June 30, 2021.

GBT acquired EXPE Egencia

On November 02, 2021, American Express Global Business Travel (GBT), completed the acquisition of Egencia. As part of the transaction, Expedia Group has become a shareholder in GBT. Expedia has also entered into a long-term agreement to provide accommodations supply to GBT.

Mark Hollyhead, President of Egencia, will continue to lead the Egencia business reporting directly to GBT CEO Paul Abbott and will join GBT’s executive leadership team.

EXPE 2022 travel hacks

On October 12, 2021, Expedia (EXPE) released its seventh annual report in partnership with Airlines Reporting Corporation (ARC) explaining the best time to book airfare, when to travel, and other tips to help travellers navigate booking a vacation in 2022. The insights found that one in five Americans are seeking savings tips and more than a third (38%) are willing to be flexible with their travel plans to save money on their next trip.

EXPE Top Trending Destinations

On September 29, 2021, Expedia (EXPE) released the new data about the top choices for Thanksgiving and Christmas escapes. According to the release, sunny beachside destinations across Mexico, the southern U.S., and the Caribbean, Mountaintop getaways to Utah and Colorado are also shaping up to be popular for travellers this holiday season.

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Conclusion

EXPE stock turnaround in the after-hours after the company released its Q3 2021 financial results which are significantly improved. We can see it to close the weekly trading by continuing its momentum on Friday as well.

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