Expedia’s Shares Tumble by 15% As It Reports Fewer Bookings

Expedia loses money due to COVID-19.

Source: Depositphotos | Author: DeltaStock

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The price per share fell after the online travel company announced its weaker-than-usual earnings release for its first quarter of 2020. Expedia executives, however, remain optimistic, stating that they have observed higher booking activity in recent weeks and are hard at work coming up with new ways of promoting the business beyond investing in Google Ads campaigns.

Yet again we’re witnessing the devastating effects of COVID-19 on the global economy, this time in the travel sector. Here are the key highlights of Expedia’s first-quarter performance:


– Loss of $1.83 per share

– Total revenue of $2.21 billion

– Company revenue down 15% y/y 

– Adjusted net loss of $285 million, up 545% y/y


This comes in stark contrast with Wall Street’s expectations of $1,23 loss per share, though revenue slightly surpassed forecasts of $2.20 billion.

In addition, the company’s lodging revenue went down by 10% for the quarter. Clients also opted to stay fewer nights (14% decrease) in the rented properties, while revenue from air travels and advertising and media revenue fell by 56% and 23%, respectively.


“In February, gross bookings declined year over year as the virus spread, particularly into Europe by later in the month. During March, with COVID-19 becoming a global pandemic, including significantly impacting North America, our largest region, cancellations exceeded new bookings, and total gross bookings were negative for the month.”

Spokesperson for Expedia


Last month, the company announced that it was raising $3,2 billion in new capital in order to afford more financial flexibility and fortify its liquidity positions throughout the pandemic. Expedia also stated that it was actively developing new marketing strategies in order to end its overreliance on Google Ads due to unfavourable changes in its algorithms that led to the company’s subpar visibility in the search engine results page.


“We’ve not been disciplined about it. We’ve chased unhealthy growth over the years, and Google and other performance marketing channels have tried to disintermediate us, and we’ve made some not terribly smart choices along the way.”

Peter Kern, CEO

Upcoming earnings reports

See the full list of upcoming earnings reports for 2 – 5 June in the tables below.

Tuesday, 2nd June 2020

Country of originCompany nameFiscal period
USAZoom Video Communications IncFirst quarter of 2021
USAAmbarella IncFirst quarter of 2021
USAGameStop CorpFirst quarter of 2020
United KingdomElectrocomponents PlcFull year 2020

Wednesday, 3rd June 2020

Country of originCompany nameFiscal period
USAABM Industries IncSecond quarter of 2020
AustriaVoestalpine AGFull year 2020
United KingdomTempleton Emerging Markets Investment Trust PlcFull year 2019
United KingdomChemring Group PlcHalf year 2020

Thursday, 4th June 2020

Country of originCompany nameFiscal period
USAGap IncFirst quarter of 2020
USASlack Technologies IncFirst quarter of 2021
United KingdomPennon Group PlcFull year 2020
GermanyWirecard AGFourth quarter of 2019

Friday, 5th June 2020

Country of originCompany nameFiscal period
JapanToshiba CorpFull year 2020
USABroadcom IncSecond quarter of 2020


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