Expedia Group Inc.
shares turned around to gains of more than 8% in after-hours trading Thursday, after earlier falling in response to fourth-quarter earnings. On a conference call, Expedia Chief Financial Officer Alan Pickerill said that the company expects adjusted Ebitda to grow 10% to 15% in 2019, which would be much larger without costs related to transitioning to cloud-computing infrastructure. “Excluding cloud expenses, adjusted EBITDA growth would be approximately 400 basis points higher,” Pickerill said on the call. Analysts on average expected Expedia’s adjusted-profit number to increase 12.1% in 2019, to $2.15 billion from $1.92 billion, according to FactSet.
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