(Reuters) -Online travel platform Expedia boosted its forecast for 2025 revenue growth, after beating Wall Street estimates for third-quarter profit, helped by strong demand from its business clients, sending its shares up nearly 10% after the bell.
The Seattle-based company now expects annual revenue to grow between 6% and 7%, compared to an earlier forecast range of 3% to 5%.
Bookings in Expedia’s B2B segment, which caters to corporate travel management firms, offline travel agents and financial institutions, rose 26% to $9.38 billion during the third quarter.
“Notably, we grew room nights in the U.S. at the fastest pace in over three years,” said Ariane Gorin, CEO of Expedia.
Meanwhile, bookings in Expedia’s direct-to-consumer segment, which includes its iconic Hotels.com and short-term rental platform Vrbo, rose 7% to $21.34 billion.
Expedia posted a third-quarter adjusted profit of $7.57 per share compared with analysts’ estimate of $6.92 per share, according to LSEG compiled data.
Total gross bookings for the third quarter came in at $30.73 billion, up 12% from last year.
(Reporting by Aishwarya Jain in Bengaluru; Editing by Tasim Zahid)
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