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Expedia Group Stock Tumbles as Worsening US Travel Demand Drags Q1 Results

Shares of Expedia Group sank Friday, a day after the travel platform's first-quarter results came in worse than expected and it lowered its full-year outlook amid weak U.S. demand.
Expedia Group's stock experienced a significant decline of up to 17% following the release of their first-quarter earnings, which fell short of Wall Street's expectations due to a slowdown in U.S. travel demand. The company reported a revenue of $2.67 billion, missing the consensus estimate of $2.71 billion, and an adjusted earnings per share of 10 cents, compared to the expected 19 cents. CEO Peter Kern highlighted that while international travel demand remains strong, the U.S. market is facing challenges, with air ticket prices dropping and consumers showing more price sensitivity. In response, Expedia is focusing on cost-cutting measures and enhancing its platform to improve user experience and drive growth.

Read the Full Investopedia Article at:
[ https://www.investopedia.com/expedia-group-stock-tumbles-as-worsening-us-travel-demand-drags-q1-results-11731557 ]