Expedia stock drops after disappointing earnings

Expedia Group Inc. shares fell in the extended session Wednesday after the online travel site’s quarterly results missed Wall Street expectations. Expedia shares dropped 7.7 % after hours, following a 0.3% rise in the regular session to close at $135.36. The company reported third-quarter net income of $409 million, or $2.71 a share, compared with $525 million, or $3.43 a share, in the year-ago period. Adjusted earnings were $3.37 a share. Revenue rose to $3.56 billion from $3.28 billion in the year-ago quarter. Analysts surveyed by FactSet had forecast earnings of $3.79 on revenue of $3.57 billion.

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