Expedia Stock Plummets Despite Beating Profit Forecasts

Shares of Expedia Group Inc. tumbled 11% after the company reported second-quarter profit that exceeded expectations, but revenue and bookings fell short. The company swung to a net income of $385 million, with adjusted earnings per share of $2.89. However, revenue grew 5.6% to $3.356 billion, below the consensus estimate, and booked hotel room nights and gross bookings also missed projections. Despite this, Expedia noted strong travel demand during the quarter.