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Long

Expedia surges on beat & cost savings

NASDAQ:EXPE   EXPEDIA GROUP INC

Surprise earnings beat and strong cost saving measures have sent the stock up 10% , which has entered a large gap on the chart.
Once past the Fib Golden Pocket may bet a long entry
COST SAVINGS MEASURES
Sees cost of sales growth elevated in the next few quarters. Says cloud costs continue to ramp. Sees some impact from coronavirus beyond Q1 and 2020
COST SAVINGS MEASURES
Since our management change in December we have re-focused the company on our core operations which had suffered for much of 2019. We have rapidly moved to simplify how we operate and increase efficiency. These changes helped us exceed the high-end of our revised guidance range in 2019 and will contribute to accelerated profit growth in our underlying business in 2020. In addition, we are targeting $300-500 million of run-rate cost savings across our business. We are not providing a specific guidance range given uncertainty on how much cost savings we'll recognize this year and the full effect of Coronavirus. However, taking these factors into account, we expect 2020 Adjusted EBITDA growth to be in the double-digits," said Chairman Barry Diller and Vice Chairman Peter Kern. "More importantly, the actions we're taking to simplify our business and drive cost efficiency will position Expedia Group for improved revenue growth and margin expansion for years to come."


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