Shares of Expedia dipped more than 7 percent in after hours trading after the company's third quarter 2017 earnings failed to meet expectations.
This was the first earnings report for Expedia since Mark Overstrom took over as CEO, after Dara Khosrowshahi left to serve as the CEO of Uber.
The travel tech conglomerate reported earnings per share of $2.51 on $2.97 billion in revenue for the quarter, missing estimates of $2.62 earnings per share on $2.98 billion in revenue. Quarterly revenue was up 15 percent year-on-year, however.
Expedia's bookings were light for the quarter. Gross bookings grew by about $2.1 billion, or 11 percent year-over-year to $22.2 billion total for the quarter.
The owner of Hotels.com, HomeAway and Orbtiz, Expedia faced a season challenged by extreme weather events. The company said it estimates a "negative impact of approximately $15 million to $20 million from the recent natural disasters," referring to hurricanes that wreaked havoc in popular tourist and business travel destinations in recent months.
Homeaway, the vacation rentals marketplace, remained a growth engine for Expedia. It accounted for $305 million in revenue for the quarter representing a 45% increase year-over-year for the business.
Overall nights stayed through all Expedia lodgings brands, including Homeaway, increased just 16% year-over-year.
The number of properties available via Expedia's global lodgings business increased to 500,000 total as of the end of September. The company also reported that 1.5 million online listings were now available on HomeAway, a direct Airbnb challenger.
The company's executives have said they will focus on long-term opportunities for growth in international markets, and a more aggressive approach to marketing and technology.