Expedia faces a novel coronavirus challenge: ‘How long can they operate at near zero revenue?’

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Caught in the headwinds of world-wide coronavirus shutdowns and travel restrictions, Expedia missed earnings estimates for the 1st quarter, reporting a loss of $1.83 per share (versus consensus estimates of a $1.29 loss per share), while posting sales of $2.2 billion for the quarter (down 15% from the year-ago quarter, its first quarterly decline in eight years) as the travel industry has been pummeled.

Investors seemingly weren’t too surprised: the stock was up 3% in after-hours trading on Wednesday following a brief drop. “Ultimately, investors are well aware of how bad the numbers are going to be both in

Read more    Source: fortune.com

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