Thursday, April 28, 2011

Expedia Inc. (NASDAQ: EXPE): Q1 2011 Earnings Roundup

Expedia Inc. (NASDAQ: EXPE) reported late Thursday that its first quarter net income declined to $52 million, or 19 cents a share, from $59.4 million, or 20 cents a share, in the year-earlier quarter. On an adjusted basis, the company earned 25 cents per share in the latest quarter. Revenue rose 15% to $822.2 million from $717.9 million. Analysts, on average, expected the company to report earnings of 26 cents per share on revenue of $795.40 million. 

Gross bookings increased 10% (9% excluding the estimated impact from year on year changes in foreign exchange rates) for the first quarter of 2011 compared with the first quarter of 2010, driven primarily by a 13% increase in average airfares, 8% growth in transactions and a 3% increase in hotel average daily rates. Domestic bookings increased 4% and international bookings increased 20% (19% excluding foreign exchange). International bookings totaled $2.9 billion, accounting for 39% of worldwide bookings.

Full Disclosure: None.
Related Posts with Thumbnails

Wikinvest Wire