Expedia app is seen on a smartphone in this illustration taken February 27, 2022. REUTERS/Dado Ruvic/Illustration/File PhotoExpedia Group on Thursday announced a new share buyback plan of US$5 billion after posting a better-than-expected quarterly profit, as the online travel booking company benefited from resilient demand and higher rates that boosted margins.
An increase in bookings during the Independence and Labor day holiday weekend also lifted earnings for hotel operators and travel agencies in the third quarter. It posted an adjusted profit of US$5.41 per share in the July-to-September period, compared with analysts' estimate of US$4.93 per share, as per LSEG data.
Expedia's total gross bookings across travel products rose 7 per cent from the year-earlier period to US$25.69 billion. We know it's a hassle to switch browsers but we want your experience with CNA to be fast, secure and the best it can possibly be.
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