“It was impressive to see the resilience of demand,” Chief Executive Officer Ariane Gorin said in an interview, even as the World Cup boosted hotel prices and airfares climbed.
Expedia also announced a third-quarter outlook that exceeded Wall Street’s expectations at the midpoint — a sign second-quarter strength is expected to continue.
The shares rose about 5% in extended trading after the report was released. The stock was up 13% this year through Wednesday’s close.
Second-quarter gross bookings rose 12%, compared with an 8.5% gain estimated by analysts, driven by strength in domestic travel and its business offerings.
Earlier this week, rival Booking Holdings Inc. maintained its outlook in another bullish sign for the industry. Demand for shorter-duration flights helped offset pressure from rising airfare and reduced capacity on longer international flights driven by the conflict in the Middle East, the company said. Analysts had expected the Kayak owner to revise full-year guidance as the conflict persists.
Ignacio Gonzalez