Expedia Group (NASDAQ: EXPE) reported a larger-than-expected quarterly loss but also said it is seeing strong and sustainable demand for its travel services. Investors are focused on the future and sent shares of Expedia up as much as 10% on Friday.

The travel industry has experienced a wild few years. A pandemic-induced drop-off in demand reversed as vaccines became more readily available. Airlines and hotels have continued to see strong bookings even as the economy has shown signs of weakening.

Expedia, one of the largest online travel agencies, is going along for the ride. The company said total gross bookings rose 20% to $29.4 billion, leading to a first-quarter company record of $2.67 billion in revenue and $2.9 billion in free cash flow.

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Source Fool.com