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TTD: Expedia’s first quarter is ‘far below expectations’
Expedia is planning a shift in its marketing approach after admitting its first quarter performance was far below expectations.
The online company said it had spent more to boost long-term growth, but had not earned enough revenue to offset the extra costs.
It reported net income of $23.3 million, or 6 cents a share, compared with $48 million or 14 cents a share a year ago.
“Needless to say we are disappointed with our financial performance this quarter, and we are focused on tactical actions, including a shift of our marketing approach, to drive improvement in our results for the balance of the year,” said CEO and president Dara Khosrowshahi.
By Bev Fearis
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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