Despegar.com Corp. (NYSE: DESP), a leading online travel company in Latin America, saw its stock surge by 13.19% in pre-market trading on Friday, November 15, 2024. The rally was fueled by the company's exceptional third-quarter 2024 earnings report and positive outlook for future growth.
During the earnings call, Despegar.com reported a record high take rate of 14.6%, driven by successful commercial efforts and a focus on package sales. Additionally, the company achieved a remarkable 35% year-over-year growth in gross bookings in constant currency, highlighting its strong business fundamentals.
Further boosting investor confidence, Despegar.com signed a new 10-year lodging outsourcing agreement with Expedia (EXPE), enhancing growth opportunities and improving its net asset position. Moreover, the launch of Sophia, an AI travel assistant, has significantly improved customer engagement and is being offered as a software-as-a-service solution to business partners.
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