Day: November 7, 2021

Travel, Leisure ETFs Rally on Airbnb, Expedia Q3 Beat

Travel and leisure sector-related exchange traded funds climbed on Friday on strong third quarter results out of Airbnb (NasdaqGS: ABNB) and Expedia Group (NasdaqGS: EXPE).

On Friday, the ETFMG Travel Tech ETF (AWAY) advanced 5.1% and the Invesco Dynamic Leisure and Entertainment ETF (PEJ) increased 3.9%.

Meanwhile, Airbnb shares jumped 12.1% and Expedia shares surged 15.1%. ABNB makes up 5.4% of AWAY’s underlying portfolio. EXPE makes up 4.3% of PEJ and 4.0% of AWAY.

Expedia posted revenue of $2.96 billion for the third quarter, up 97% year-over-year, and well ahead of Wall Street analysts’ consensus of $2.73 billion, Barron’s reports. Gross bookings were $18.7 billion, or up 117%, and adjusted Ebitda was $855 million, or up 181% from a year ago.

“Despite continued volatility in the travel recovery, Expedia Group’s net income and adjusted Ebitda for the quarter nearly matched our Q3 2019 levels driven by the superior performance from

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