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July 31 Online travel agency Expedia Inc
reported better-than-expected quarterly results, driven
by higher hotel and flight bookings.
Expedia shares rose as much as 4 percent to $82.65 after the
bell on Thursday.
Expedia, whose brands include Hotels.com and Hotwire.com and
the corporate travel business Egencia.com, has been spending on
technology and international expansion to better compete against
rivals such as Priceline Group Inc.
Expedia's revenue from hotel bookings rose 23 percent while
air tickets revenue rose 22 percent.
Advertising and media revenue rose 54 percent to $123
Expedia's net profit rose to $85.9 million, or 67 cents per
share, for the second quarter ended June 30 from $63 million, or
51 cents per share, a year earlier. (bit.ly/Xl6dto)
Excluding items, Expedia earned $1.03 per share.
Revenue rose 24 percent to $1.49 billion.
Analysts on average had expected a profit of 76 cents per
share on revenue of $1.44 billion, according to Thomson Reuters
The company's shares had gained nearly 15 percent this year
to Thursday's close of $79.42.
(Reporting by Rohit T. K. in Bangalore and Karen Jacobs in
Atlanta; Editing by Sriraj Kalluvila)