By Connor Hart
Shares of Despegar.com rose after the company posted higher-than-expected third-quarter results and raised its adjusted earnings outlook.
The stock was up 16%, to $17.24, in after-hours trading Thursday. Shares, which ended the regular session 1.8% higher, at $14.86, are up 57% since the beginning of the year.
The Latin American travel-technology company backed its full-year revenue outlook of at least $760 million, or 8% higher than last year. It raised its adjusted earnings before interest, taxes, depreciation and amortization outlook to $170 million from $160 million. Analysts are looking for revenue of $765.1 million and adjusted Ebita of $158.8 million.
Despegar.com posted a profit attributable to the shareholders of $1.3 million, or 2 cents a share, compared with a loss of $8.2 million, or 11 cents a share, in last year's same quarter.
Adjusted per-share earnings were 34 cents, beating the 17 cents that analysts surveyed by FactSet expected.
Revenue rose 9%, to $193.9 million, ahead of the $189.9 million that analysts were looking for, boosted by a slightly higher total number of transactions.
Chief Executive Damian Scokin said demand was strong in the quarter, boosted by the company's technologies, local expertise and inventory. Higher demand helped offset foreign-exchange challenges, which hurt its recent quarter's results, he added.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
November 14, 2024 18:54 ET (23:54 GMT)
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