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Expedia profits rise 41%
Expedia saw quarterly profits rise by 41% to $82 million, its first reporting period since operating as a separate company.
The net income figure for the three months to the end of September compared with $58.1 million in the same period last year.
Gross bookings increased 21% in the quarter, with US bookings up 16% and international bookings up 39%.
The company admitted the results were negatively affected in the period by hurricane and terrorist activity.
Revenue was up by 16% to $584.7 million, mainly driven by increased worldwide merchant hotel business, acquisitions and growth in car rental. International revenues were up by 43% while US domestic revenue rose by 10%.
Expedia’s international arms contributed 23% of gross bookings and 22% of revenue in the three months, up from 19% and 18% respectively.
Chairman Barry Diller said: “Expedia delivered solid bookings and profit growth in its foundational quarter as an independent public company.
“With over $15 billion in gross bookings and more than $2 billion in revenue over the past 12 months, the company has established itself as a premier e-tailer and a travel company with truly global aspirations.”
Report by Phil Davies
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