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Expedia shares fall as Vrbo weakness weighs on revenue forecast [Reuters]

Expedia Group, Inc. (EXPE)  More Company Research Source: Reuters
Last expedia group, inc. earnings: 2/13 04:01 pm Check Earnings Report
US:NASDAQ Investor Relations: expediainc.com/contact-investor-relations
May 3 (Reuters) - Expedia shares sank about 9% in premarket trading on Friday, after the online booking firm cut its annual forecast for revenue growth due to weakness at its vacation rentals brand Vrbo. The company, which is known for its three brands Expedia, Hotels.com and Vrbo, projected full-year revenue growth in the mid-to-high-single digit percentage range late on Thursday, down from a prior forecast of double-digit growth. The company had migrated its Vrbo brand to the Expedia platform along with the rollout of its consolidated loyalty program covering all three brands, in a bid to allow customers to book across nameplates under one platform. While Expedia hoped for a profit boost from the re-platforming of Vrbo, it said the brand was seeing a slower rebound, which weighed on overall bookings. "We had pulled back on Vrbo marketing in the second half of last year... And while we have been ramping that spend and the product has been improving, we have seen a slower-tha [Read more]
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Stockreport

Expedia shares fall as Vrbo weakness weighs on revenue forecast [Reuters]

Expedia Group, Inc.  (EXPE) 
More Company Research Source: Reuters
Last expedia group, inc. earnings: 2/13 04:01 pm Check Earnings Report
US:NASDAQ Investor Relations: expediainc.com/contact-investor-relations
May 3 (Reuters) - Expedia shares sank about 9% in premarket trading on Friday, after the online booking firm cut its annual forecast for revenue growth due to weakness at its vacation rentals brand Vrbo. The company, which is known for its three brands Expedia, Hotels.com and Vrbo, projected full-year revenue growth in the mid-to-high-single digit percentage range late on Thursday, down from a prior forecast of double-digit growth. The company had migrated its Vrbo brand to the Expedia platform along with the rollout of its consolidated loyalty program covering all three brands, in a bid to allow customers to book across nameplates under one platform. While Expedia hoped for a profit boost from the re-platforming of Vrbo, it said the brand was seeing a slower rebound, which weighed on overall bookings. "We had pulled back on Vrbo marketing in the second half of last year... And while we have been ramping that spend and the product has been improving, we have seen a slower-tha [Read more]
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