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Expedia Stock Falls After Home-rental Growth Underwhelms

by posted 11months ago 23 views
Shares of Expedia Group Inc. are down 2.6% in Friday morning trading after the company posted a narrower loss than analysts were expecting but disappointed some analysts with its room-night growth in "alternative accommodations," or home rentals. Expedia is shifting its branding strategy in home rentals, so that it will now focus on the Vrbo name, rather than the HomeAway name. That change, along with search-engine optimization issues and competitive pressures led to 8% growth in room nights for alternative accommodations, "well below expectations," according to Stifel's Scott Devitt, who rates the stock at hold.

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