Expedia (EXPE)

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Expedia shares tumbled as much as 13 per cent to a near six-month low in early trading on Friday (May 3), after the online booking firm cut its annual forecast for revenue growth due to weakness at its vacation rentals brand Vrbo.

Vrbo was seeing a slower rebound than the company’s expectations following a restructuring aimed at allowing customers to book across brands under one platform.

The company, which also owns Hotels.com, projected full-year revenue growth in the mid-to-high-single digit percentage range, down from a prior forecast of double-digit growth.

Source: Phillips