Expedia Group Inc
EXPE: XNAS (USA)
| Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
|---|---|---|---|
| $293.00 | Kcnpnw | Cqbzzdgd |
Expedia Earnings: Fundamental Story Intact Despite Sales Ramping Below Management's Expectations
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Narrow-moat Expedia guided its 2024 sales growth lower to the mid-high-single digits from around 10% due to its Vrbo brand ramping slower than expected after its recent platform migration, which sent shares down 8% in May 2 after-market trading. While the new guidance is below FactSet consensus’ 9.4% expectation, it is in line with our 7.7% projection as we have expected benefits from past network investments to begin to surface later in 2024 and into 2025.