Expedia (NASDAQ:EXPE) shares rose 10% after-hours following the company’s reported Q3 results, with EPS of $5.41 coming in better than the consensus estimate of $4.99.
Revenue grew 9% year-over-year to $3.93 billion, beating the consensus estimate of $3.86B, and representing a record for any quarter. Gross bookings grew 7% year-over-year to $25.68B.
“Our B2B business continues to demonstrate strong year-over-year revenue growth, while more importantly, our B2C revenue growth accelerated over 400 basis points sequentially. Our new unified loyalty program, One Key, is showing good early results following its July launch in the US,” said CEO Peter Kern.
The company repurchased approximately 17 million shares for a record $1.8B year-to-date, and announced a $5B share repurchase authorization of its common stock, which is effective immediately.