World News

Expedia suspends 2020 forecast on coronavirus uncertainty

(Reuters) – Expedia Inc <EXPE.O> said on Thursday it was not providing a full-year forecast as the online travel services company assessed the impact of the coronavirus outbreak on its operations.

The epidemic, which has killed more than 1,300 people in China, has raised concerns that the global economic fallout could stretch further into 2020 than what was earlier expected.

“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,” Expedia said in a statement.

On an adjusted basis, Expedia earned $1.24 per share in the fourth quarter ended Dec. 31, beating analysts’ average estimate of $1.19 per share, according to Refinitiv data.

Shares were up 10.5% at $122.21 after the bell.

(Reporting by Sanjana Shivdas in Bengaluru; Editing by Vinay Dwivedi)