Expedia Shares Soar on Earnings Beat

Quarterly revenue jumped compared to last year

   

Expedia Shares Soar on Earnings Beat

expedia sign 6301 300x200 Expedia Shares Soar on Earnings BeatShares of Expedia (EXPE) surged more than 17% in pre-market trading on Thursday after the company posted quarterly earnings that topped Wall Street forecasts.

During the third quarter, Expedia said it generated a profit of $170.9 million, down slightly from $171.5 million during the same period last year. Adjusted EPS came in at $1.43, easily beating the $1.35 that analysts were expecting, Reuters noted.

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The online travel arrangement service reported quarterly revenue of of $1.4 billion, up 17% from last year. That also topped the $1.37 billion that analysts had estimated.

Expedia stumbled during the second quarter after TripAdvisor (TRIP) adjusted its lead-generating system. However, the company’s CEO said that it had successfully adapted to the change. “Our bidding models are improving and we’re generally regaining click share,” Dara Khosrowshahi noted in a conference call following the earnings release.


Article printed from InvestorPlace Media, http://investorplace.com/2013/10/expedia-shares-soar-earnings-beat/.

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