Expedia, TripAdvisor plummet more than 20% after the online travel companies report poor earnings

both reached new year-to-date lows during mid-day trade Thursday, tumbling as much as 25%.

The stock plunge comes after both the travel service stocks reported third-quarter earnings misses after the bell Wednesday. Expedia reported earnings of $3.38 per share excluding certain items on revenue of $3.56 billion, falling short of the $3.80 in earnings per share and revenue of $3.58 billion that analysts expected, according to Refinitiv. Expedia's gross bookings also came in just shy of estimates, coming at $26.93 billion versus the $27.06 billion expected.

TripAdvisor, meanwhile, posted earnings of 58 cents per share on revenue of $428 million, while analysts expected an earnings per share of 69 cents and revenue of $459 million, according to Refinitiv consensus estimates. Expedia's shares are down more than 10% year-to-date, while TripAdvisor's shares are down about 42% year-to-date.

They have lost their relevancy.

What happened here?

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Expedia stock drops after disappointing earningsExpedia Group Inc. shares fell in the extended session Wednesday after the online travel site's quarterly results missed Wall Street expectations. Expedia...
Source: MarketWatch - 🏆 3. / 97 Read more »

Choosing the Right Earnings Day is a Complex Task for Finance ExecutivesDeciding when to post earnings increasingly involves weighing regulations, executive travel plans and the timing of competitors’ reports, all in an effort to maximize—or perhaps avoid—attention from analysts and investors.
Source: WSJ - 🏆 98. / 63 Read more »