Expedia Stock Hits All-Time High on Soaring Bookings

Expedia Group (EXPE) shares traded at an all-time high Friday, a day after the travel website reported better-than-expected results and reinstated its dividend on strong bookings during the holiday quarter.

The company’s fourth-quarter gross bookings rose nearly 13% to $24.4 billion, and nights booked totaled 86.4 million. Analysts surveyed by Visible Alpha were looking for $23.2 billion and 84.2 million, respectively.

Expedia posted adjusted earnings per share (EPS) of $2.39 and revenue up 10% to $3.18 billion. Those were also above forecasts.

CEO Highlights ‘Better-Than-Expected Travel Demand’

CEO Ariane Gorin said the performance reflected Expedia’s “continued strong execution and better-than-expected travel demand.”

The company also reinstated and raised its quarterly dividend, which it had suspended in the second quarter of 2020 because of concerns about the impact of the COVID-19 outbreak on travel demand. Gorin explained that move “reflects our confidence in our long-term outlook and commitment to shareholder returns.” The new dividend of $0.40 per share, up from the previous $0.34, will be paid on March 27 to shareholders of record on March 6.

Shares of Expedia Group were up more than 15% Friday morning to lead S&P 500 gainers. The stock recently was trading around $200 after earlier touching a record $204.20.