Expedia Group saw revenue rise 18% in the first quarter to $2.7 billion thanks to “strong travel demand driven by increasing international travel, major city travel, and the reopening in Asia,” Expedia CEO Peter Kern said in the company’s earnings release. The company beat revenue expectations but missed on profit estimates, reporting an adjusted net loss per share of $0.20. Expedia stock was up 6% in after-hours trading. Gross bookings were up 20% to $29.4 billion, and lodging bookings hit a new record at $21.1 billion.
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