Online travel agency Expedia cut its 2024 revenue growth forecast on Thursday, as gross bookings were hit by poor performance in its business-to-consumer segment.
Shares of the company were down about 8% after the bell.
“Given the Vrbo drag and the rate of acceleration in B2C thus far, we are lowering our full-year guidance to a range of mid- to high-single-digit top line growth with margins relatively in line versus last year,” said CEO Peter Kern.
The Seattle-based company reported a quarterly adjusted profit of 21 cents per share, compared with a loss of 20 cents per share last year.
Total quarterly revenue was $2.89 billion, up 8% from a year earlier.
(Reporting by Aishwarya Jain; Editing by Pooja Desai)