Expedia (NASDAQ: EXPE) shares were trading more than 5% higher after-hours following the company’s reported Q4 results, with EPS of $1.06 coming in significantly better than the consensus estimate of $0.70.

Total revenue declined 17% to $2.3 billion, compared to Q4/19 and total gross bookings declined 25% to $17.5 billion, the lowest quarterly decline in 2021 despite the impact of Omicron. Compared to Q4/20, both total gross bookings and total revenue increased significantly. Booking trends for lodging (75% of total revenue), air (3% of total revenue), and other travel products (15% of total revenue) all declined sequentially from Q3 due to seasonality as well as the impact of the Omicron variant in the latter part of the quarter.