UPDATE 1-Travelzoo profit rises as newsletter subscriptions go up
* Q2 EPS $0.45 vs last yr $0.30
* Q2 revenue up 5 pct at $39.4 mln
* Shares up 8 pct premarket
July 19 (Reuters) - Online travel-deals company Travelzoo Inc reported a higher quarterly profit as new subscriptions for its local deals e-mail newsletters rose.
Shares of the company were up 8 percent in premarket trade on Thursday. They closed at $21.73 on Wednesday on the Nasdaq.
The company, which offers travel deals on flights, hotels, vacation packages and cruises, said subscriptions rose 6 percent to 22.1 million in the second quarter.
Travelzoo, which competes with Expedia Inc, Priceline.com Inc and Groupon Inc, said net income rose to $7.3 million, or 45 cents per share, from $4.9 million, or 30 cents per share, a year earlier.
Revenue rose 5 percent to $39.4 million.
The stock has lost one-fifth of its value since the company reported lower-than-expected revenue last quarter.
- Exclusive: Malaysia plane probe narrows on mid-air disintegration - source
- Radar showed missing plane may have turned back: Malaysia military
- Missing Malaysian jet may have disintegrated in mid-air: source |
- Malaysian plane presumed crashed; questions over false IDs |
- Merkel raps Putin as Russian forces tighten grip on Crimea |