96.65 +0.02 (0.02%)
After hours: 6:21PM EST
|Bid||96.70 x 2200|
|Ask||96.70 x 2900|
|Day's range||94.68 - 96.82|
|52-week range||93.53 - 144.00|
|Beta (3Y monthly)||1.10|
|PE ratio (TTM)||28.93|
|Earnings date||5 Feb 2020 - 10 Feb 2020|
|Forward dividend & yield||1.36 (1.44%)|
|1y target est||135.52|
Nov.07 -- Mark Okerstrom, Expedia Group Inc. chief executive officer, discusses the company's third-quarter earnings and the outlook for its home-sharing division, Vrbo. He speaks with Bloomberg's Vonnie Quinn and Guy Johnson on "Bloomberg Markets."
Expedia Group (EXPE) has witnessed a significant price decline in the past four weeks, and is seeing negative earnings estimate revisions as well.
US online travel sites Expedia, TripAdvisor and Booking Holdings make their living peddling dream vacations in far-flung locales. Dismal results last week sent stocks plunging. Google was to blame.
Regular readers will know that we love our dividends at Simply Wall St, which is why it's exciting to see Expedia...
To the annoyance of some shareholders, Expedia Group (NASDAQ:EXPE) shares are down a considerable 31% in the last...
(Bloomberg) -- Google’s moves to cram the top of its search results with more and more advertising is hammering the online travel industry, one of the company’s biggest customers.Expedia Group Inc. fell the most in 14 years on Thursday and TripAdvisor Inc. dropped the most in two years after the companies reported dismal third-quarter results and laid the blame on Google. Booking Holdings Inc.’s shares dropped 8%, too, wiping out a combined market value of more than $13 billion from the three online travel agents.Google dominates the online search market, with at least three quarters of the market. People use the search engine to research trips, so for at least a decade online travel agents have refined their websites with trustworthy content and easy booking tools to show up high in Google results.This search engine optimization, or SEO, worked well until about five years ago. Around that time, Google began placing more ads on the top of search results, pushing down the free listings. The internet giant also built new travel search tools, which were mostly paid listings, too. This means online travel agents now must pay billions of dollars each year to Google to ensure they show up high in search results and get clicks from travel planners.The online travel industry has been concerned about Google’s changes since at least 2016. But the full impact was felt this week.“Google has got more aggressive,” TripAdvisor Chief Executive Officer Stephen Kaufer said during a conference call with analysts late Wednesday. “We’re not predicting that it’s going to turn around.”Free traffic is “shrinking all the time,” Expedia Chief Executive Officer Mark Okerstrom said the same day. “Google does continue to push for more revenue per visitor. And I think it’s just the reality of where the world is.”The industry has been trying other marketing channels, such as social media and more TV advertising. But Google’s search engine is so pervasive that online travel agents have to keep buying ads from the company to keep traffic coming to their sites.D.A. Davidson analysts wrote that Expedia is exploring alternatives to mitigate its “reliance on search/Google,” but they see “no alternatives that will be able to efficiently ‘move the needle’ from a volume perspective anytime soon.”Carnage in the online travel industry comes as antitrust scrutiny of Google is ramping up in the U.S. State, federal and congressional probes are all underway to determine whether the company violates competition law. One area of concern is vertical search, where Google uses its main search engine to promote its own industry-specific products over those of other companies. Travel is one example where this is happening, along with local search, contractor marketplaces like Angie’s List and shopping-comparison services.Google has been a rising risk for the travel industry for a while, but executives have been generally hesitant to blame it for poor results. The search giant is one of the most important sources of traffic and business for online travel agencies, so they have tried to maintain a good relationship. But this quarter, Google’s impact was so painful that industry executives and Wall Street analysts couldn’t avoid it.“We see these Google changes as a potential headwind to OTA profitability,” Morgan Stanley analyst Brian Nowak said in a note to clients. This trend isn’t going away, and people who want to invest in the online travel sector should do it through Google stock, he added.Booking Holdings, the largest online travel agent, was peppered with questions about Google during a conference call with analysts on Thursday.Glenn Fogel, Booking’s chief executive officer, said the company’s future success will rely on reaching people without Google getting in the way.“What we know is most important is for us to get customers to come to us directly,” he said. Building brand strength and retaining customers better means the company “will not be as dependent on other sources of traffic,” he added.\--With assistance from Ryan Vlastelica, Olivia Carville and Ian King.To contact the reporters on this story: Gerrit De Vynck in New York at email@example.com;Kiley Roache in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Jillian Ward at email@example.com, Alistair Barr, Andrew PollackFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. From protests in Hong Kong to uncertainty around trade, the damage from political turmoil involving China is already baked in for some large U.S. hoteliers. And even with the initial phase of a China deal in sight, the cost may not be easy to make up for.Expedia Group, an online travel service, is the latest leisure company that cited Hong Kong as one reason for their disappointing results. Last week, Marriott International said that revenue-per-available-room, or revpar, a key hotel business metric, declined 27% in Hong Kong in the third quarter. And that came shortly after Hyatt Hotels and Hilton Worldwide each reported a bigger decline in the same measure.“Revpar is seeing a sharp slowdown from earlier this year,” said Bloomberg Intelligence analyst Brian Egger. This slump, he said, can be attributed to a combination of things, including a slowing economy in China, protests in Hong Kong, and the U.S.-China trade war.Other companies face similar headwinds. InterContinental Hotels Group said unrest in Hong Kong, along with “tougher trading conditions in the U.S. and China” hurt businesses last quarter, leading to a 0.8% decline in revpar. Uncertainty around the trade war had an impact on corporate business demand in mainland China, Mark Debenham, a spokesman at InterContinental, said in an email.And it’s not just U.S. hotels that are suffering. AccorHotels, based in France, last month tightened its 2019 forecast range, citing “uncertainties looming over Asia-Pacific.”While hotels’ Asia businesses are taking a setback, the outlook in the U.S. doesn’t look promising either. According to the U.S. Travel Association, the volume of people visiting the country will decline about 0.6% over the next six months from a year ago.With headwinds from “the macro environment possibly increasing” in the fourth quarter, Expedia shares may not recover soon after a 28% plunge Thursday, Bank of America analysts warned. Another major online travel agency, Booking Holdings, will report third-quarter results after the market closes and its shares fell as much as 8.3% ahead of the report.Political developments may set the tone for the companies, according to BI’s Egger. The comparisons could get easier for hotel operators if there’s a trade agreement and the crisis in Hong Kong finds resolution, he said. “Generally speaking, more harmonious geopolitical conditions will lend itself to more favorable travel conditions.“To contact the reporter on this story: Anisha Sircar in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Brad Olesen at email@example.com, Lu Wang, Tatiana DarieFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
The latest U.S.-China trade war news that could see the world's two largest economies roll back tariffs. Q3 earnings results from the likes of Qualcomm and Square. And why Yeti is a Zacks Rank 1 (Strong Buy) stock...
Expedia Group's (EXPE) third-quarter results benefit from robust performance of Vrbo, Hotels.com and Expedia Partner Solutions. However, sluggish trivago hurt the top line.
Investing.com – Wall Street surged to record highs on Thursday, as investor sentiment was boosted by reports of progress on the U.S-China trade war.
Investing.com - U.S. futures rebounded on Thursday, after the Chinese commerce ministry said Beijing and Washington have agreed to phase out tariffs imposed during their 16-month long trade war.
Expedia (EXPE) delivered earnings and revenue surprises of -11.52% and -0.55%, respectively, for the quarter ended September 2019. Do the numbers hold clues to what lies ahead for the stock?
(Bloomberg) -- Expedia Group Inc. showed a decline in revenue growth at its vacation rental business in the third quarter, signaling slowed momentum in the travel giant’s fastest-growing category and leading to a lowered profit forecast for the year.Bellevue, Washington-based Expedia’s short-term rental unit reported revenue growth of 14% in the three months ended Sept. 30, to $467 million. That’s less than the 17% pace in the previous period and missed analysts’ estimates for $462.4 million. Total revenue grew 8.6% to $3.56 billion, in line with analysts’ estimates. As a result of “disappointing results” in the quarter, Chief Executive Officer Mark Okerstrom lowered the company’s full-year outlook for adjusted earnings before interest, taxes, depreciation and amortization. The shares fell about 13% in extended trading.Expedia has been plowing resources into its home-sharing division, Vrbo, in a bid to challenge rivals Airbnb Inc. and Booking Holdings Inc. in the booming market for alternative accommodation. While Vrbo dominates the market in the U.S. for purely vacation-rentals, Airbnb and Booking capture a much larger share of the broader global $34 billion alternative accommodation market, which also includes non-traditional hotels and home sharing.“We continue to be happy with the trends we are seeing at Vrbo and we continue to see growth rates in double digits,” Okerstrom said on a conference call. Expedia expects “continued muted growth rates” at Vrbo while it builds out the brand, which now suffers low visibility compared with its competitors. “Once we get past some changes, we will be able to return to growth rates we’re more satisfied with,” he said.Earlier this year, Expedia changed the vacation-rental division name to Vrbo, a moniker more familiar to Americans than the previous HomeAway label, which is more well-known in Europe.Okerstrom said Expedia now sees 2019 adjusted Ebitda growth of 5% to 9%, down from a previous forecast for as much as 15% growth.Vrbo only pulls in just over 10% of Expedia’s overall revenue, but analysts and investors focus on the division because it represents the company’s best bet for growth.Gross bookings for the travel giant climbed 9% to $26.9 billion. Adjusted earnings before interest, tax, depreciation and amortization came in at $912 million, missing average analyst estimates of $973.3 million. Earnings per share were $3.38, excluding some items. Analysts, on average, estimated $3.77.(Updates with forecast in the sixth paragraph.)To contact the reporter on this story: Olivia Carville in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Jillian Ward at email@example.com, Molly Schuetz, Andrew PollackFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Investing.com - Expedia (NASDAQ:EXPE) reported third quarter earnings that missed analysts' expectations on Wednesday and revenue that fell short of forecasts.
Investing.com - U.S. futures were flat on Wednesday, with a dearth of news on the U.S-China trade front leaving market participants to concentrate largely on the day's earnings reports.
Investing.com -- The WeWork fiasco drives SoftBank to a multibillion-dollar loss, while Xerox (NYSE:XRX) is eyeing a merger with HP and Saudi Arabia is leaning on its OPEC allies to prop up oil prices while it brings national champion Aramco to market. Here's what you need to know in financial markets on Wednesday, 6th November.