Benchmarkanalyst Daniel Kurnos reiterated$Expedia (EXPE.US)$with a Buy and a $180 price target.
Expedia reported first-quarter sales of $2.89 billion, up by 8.4% year-on-year, beating the analyst consensus estimate of $2.81 billion. EPS loss of $(0.21) beat the analyst consensus estimate of loss of $(0.24).
Kurnos noted that Expedia didn't benefit from having a better gross bookings outlook for the year compared to$Booking Holdings (BKNG.US)$.Instead, it faced a softer start in 2024 for Vrbo and slower-than-expected growth in its core B2C, leading to an immediate reduction in fiscal 2024 guidance.
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