BUZZ-Expedia shares drop due to disappointing revenue outlook

November 5 - ** Expedia (EXPE.O) shares fell about 6% in pre-market trading, at $297.62

** According to data compiled by the London Stock Exchange Group (LSEG), the online travel company on Wednesday forecast its Q4 (link) revenue to be between $3.69 billion and $3.75 billion; the midpoint of this range is below the analysts’ average estimate of $3.74 billion

** Chief Financial Officer Derek Andersen attributed this to the U.S. midterm elections; he said turmoil in the Middle East and Europe impacted long-haul routes

** Peers Booking. BKNG.O, Hilton HLT.N, and Marriott MAR.O also pointed to the drag caused by instability in the Middle East

** EXPE’s third quarter revenue and profit both exceeded market expectations; full-year total bookings and revenue forecasts both topped market expectations

** As of the close of the previous trading day, the stock was up about 12% year-to-date.

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