July 31, 2014 / 10:27 PM / 4 years ago

UPDATE 1-Expedia profit rises on higher hotel, flight bookings

(Adds details, background)

July 31 (Reuters) - 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 million.

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 I/B/E/S.

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)

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