- Expedia reported its first quarter 2020 earnings after the bell on Wednesday.
- The coronavirus pandemic has battered the travel industry as consumers spend more time at home.
- Shares initially dropped on the report as investors digested the news before gaining more than 4.5%.
- Loss of $1.83 per share
- Revenue: $2.21 billion
The company’s Q1 revenue decreased 15% year over year, Expedia reported. Expedia’s adjusted net loss was $285 million for the quarter, up 545% year over year. CNBC reported.