By Yasin Ebrahim
Investing.com - Expedia (NASDAQ:EXPE) reported Monday first-quarter results that beat analysts' forecasts, as bookings activity was buoyed by a rebound in travel demand following the omicron impact.
Expedia shares gained 5% in after-hours trade following the report.
Expedia announced a loss per share of 47 cents on revenue of $2.25 billion. Analysts polled by Investing.com anticipated a loss per share of 47 cents on revenue of $2.25 billion.
For the first quarter 2022, total gross bookings jumped 58% to $24.4 billion compared with the first quarter 2021, though were down 17% compared to the first quarter 2019, the smallest quarterly decline since the start of the pandemic.
Lodging, which makes up 72% of total revenue, climbed 78% to $1.6 billion, driven by a "significant increase in room nights stayed across hotels and alternative accommodations as well as average daily rate growth," the company said.
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