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Expedia first-quarter loss narrows, adjusted profit tops estimates
May 1, 2014 / 8:17 PM / 4 years ago

Expedia first-quarter loss narrows, adjusted profit tops estimates

(Reuters) - Online travel agency Expedia Inc (EXPE.O) on Thursday posted a narrower quarterly loss, but its adjusted quarterly profit topped expectations as it sold more hotel stays and airline tickets.

The company, whose online brands include Hotels.com and Hotwire, posted a loss of $14.3 million, or 11 cents a share, in the first quarter, compared with a loss of $104.2 million, or 77 cents a share, a year earlier.

Adjusted for certain items, Expedia earned 16 cents a share in the latest quarter, compared with the 15 cents a share expected by analysts on average, according to Thomson Reuters I/B/E/S.

Quarterly revenue rose 19 percent to $1.2 billion, it said.

Hotel revenue rose 12 percent as the number of room nights stayed increased 24 percent. Revenue from air tickets rose 28 percent. Hotels accounted for 66 percent of overall quarterly revenue compared with 11 percent for air tickets.

Shares of Expedia rose to $74.46 in extended trading after closing at $73.87 after the results were disclosed.

Reporting by Karen Jacobs in Atlanta; editing by Steve Orlofsky and G Crosse

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