Expedia Group reported better-than-expected profit in the fourth quarter as the latest disruption from the Covid-19 pandemic did not severely impact the online travel company as it has in previous quarters.
The Seattle-based company reported a profit of $386 million, or per-share earnings of $1.70, compared with a loss of $383 million, or a loss per share of $2.89, in the same quarter a year ago. Adjusted per-share earnings were $1.06. Analysts polled by FactSet expected adjusted per-share earnings of 80 cents.
Revenue rose to $2.28 billion from $920 million. Gross bookings rose to $17.46 billion from $7.58 billion.
Chief Executive Peter Kern said in prepared remarks that the company experienced another travel disruption from the pandemic but that the impact was less severe and of shorter duration than previous waves. He said he continues to expect a solid overall recovery in 2022 barring a change in the trajectory of the pandemic.
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