Expedia soars after earnings beat

Expedia soars after earnings beat

Expedia shares soared as much as 8 percent during after-hours trading Thursday as the travel technology company beat Wall Street expectations for its third-quarter earnings.

The company earned $3.65 a share, beating analysts’ estimates of $3.12 a share. However, the company missed on revenue, reporting $3.28 billion while analysts predicted $3.3 billion.

Expedia had announced on Thursday that it acquired rental software company Pillow and online renting company ApartmentJet in an effort to expand accommodation options and compete with companies like Airbnb.

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