Expedia Group shares jumped on Friday after the travel website operator reported a quarterly profit well above estimates.
The company reported a second-quarter profit of $1.38 per share on Thursday, beating the 89 cent consensus estimate by Thomson Reuters. Revenue for the second quarter, meanwhile, fell in line with analysts’ expectations at $2.88 billion.
Shares were up 8.2 percent on the news, on track for their best day since April 27.
Expedia also reported that gross bookings increased 13 percent from last year, boosted by a 33 percent year-over-year jump in HomeAway bookings and and an 11 percent gain in bookings from its core business.
“We’ve delivered solid financial results while continuing to push forward on several critical initiatives aligned with the three strategic themes I outlined late last year, becoming more locally relevant on a global basis, becoming more customer-centric and speeding up the pace of execution and innovation,” said Expedia CEO Mark Okerstrom.
Shares of the company were up 5 percent year to date through Thursday’s close.