Summarize this content to 2000 words in 6 paragraphs
Expedia Group topped expectations for its second quarter, with $3.6 billion in revenue, up 6% year-over-year, and profits of $386 million, flat compared to the year-ago period. Gross bookings reached $28.8 million, up 6%, and room nights booked grew 10% to 98.9 million.
Perhaps most notable in the company’s earnings release was a caution that the Seattle-based giant saw “a softening in travel demand” in July, causing it to adjust expectations for the rest of the year.
Expedia’s stock fell initially after market close on Thursday but was up more than 7% later in after-hours trading.
Other travel giants such as Airbnb and Booking Holdings have also pointed to lower travel demand. Airbnb stock fell 14% earlier this week after its earnings.
And beyond travel, retail companies such as Amazon have cited cautious consumer spending.
Expedia’s new CEO, Ariane Gorin, started in her new role earlier this year. Gorin, a longtime Expedia leader, replaced former CEO Peter Kern as part of a move announced in February.
