By Doyinsola Oladipo
NEW YORK (Reuters) -Expedia Group Inc on Thursday beat Wall street estimates for first-quarter revenue on record lodging bookings and increased international travel demand.
Shares of the company rose 4.3% in trading after the bell.
“The first quarter saw strong travel demand driven by increasing international travel, major city travel, and the reopening in Asia,” Expedia Group CEO Peter Kern said in a statement.
Total gross bookings rose 20% from the year-earlier period to 29.4 billion.
The Expedia.com and Hotel.com operator posted an adjusted first-quarter loss of 20 cents per share, missing analysts’ expectations for a loss of 4 cent a share.
The online booking company’s revenue rose to $2.7 billion in the first quarter up 18% from a year ago, the highest first quarter revenue for the company, and beat analysts’ average estimate of $2.6 billion.
(Reporting by Doyinsola Oladipo in New YorkEditing by Chris Reese and Sandra Maler)
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