Shares of Expedia rose more than 8 percent Friday after the company posted an unexpected profit in the first quarter.
The company reported earnings Thursday of 9 cents a share ex-items on $1.90 billion in revenue. Analysts had expected the travel-booking platform company to post a loss of 6 cents a share on $1.84 billion in revenue, according to a consensus estimate from Thomson Reuters.
The stock closed Friday at $115.77 per share.
Following acquisitions of HomeAway and Orbitz, earnings were boosted by a 37 percent year-on-year increase in room nights, as well as the addition of 13,000 new properties, and a 32 percent jump in bookings.
"Because of our other brands — because of Expedia, Hotels.com — we know how to bring properties online," said Dara Khosrowshahi, CEO of Expedia, told CNBC's "Squawk on the Street" Friday. "And we know how to market those properties to travelers to book in a really easy way."
Eight analysts boosted their price target of the stock, though not all were totally swayed Expedia's results. Stifel analyst Scott Devitt raised his price target from $95 to $99 Friday, but wrote: "Although the impact may not be felt yet, moderating macro tailwinds and pressure from aggressive hotel direct booking campaigns may impact performance in 2017 and beyond."
Pacific Crest's Brad Erickson wrote that while Expedia's bounce was "tempting," he'd "look for a pullback before putting new money to work."
— CNBC's Christine Wang contributed to this report.