CHICAGO, Feb 11 (Reuters) - Expedia Inc, the largest online travel agency, posted a quarterly profit on Thursday on a 26 percent gain in its travel bookings.
Expedia said its fourth-quarter net profit amounted to $102.2 million, or 35 cents per share, compared with a loss of $2.76 billion, or $9.62 per share, a year earlier when the company took a hefty accounting charge.
Excluding one-time items, Expedia earned 30 cents per share. Wall Street had expected the company to earn 29 cents per share, according to Thomson Reuters I/B/E/S.
The company said the total value of its bookings rose 26 percent to $5.05 billion. Domestic bookings increased 19 percent and international bookings increased 38 percent.
Revenue jumped by 12 percent to $697.5 million on an increase in hotel and advertising and media revenues
The travel industry has been hit in the last year by an economic downturn that eroded travel demand. Online travel companies responded by slashing fees and offering promotions to bolster bookings.
(Reporting by Kyle Peterson, editing by Dave Zimmerman) Keywords: EXPEDIA/ (kyle.peterson@thomsonreuters.com ; +1 312 408 8581; Reuters Messaging: kyle.peterson.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Expedia said its fourth-quarter net profit amounted to $102.2 million, or 35 cents per share, compared with a loss of $2.76 billion, or $9.62 per share, a year earlier when the company took a hefty accounting charge.
Excluding one-time items, Expedia earned 30 cents per share. Wall Street had expected the company to earn 29 cents per share, according to Thomson Reuters I/B/E/S.
The company said the total value of its bookings rose 26 percent to $5.05 billion. Domestic bookings increased 19 percent and international bookings increased 38 percent.
Revenue jumped by 12 percent to $697.5 million on an increase in hotel and advertising and media revenues
The travel industry has been hit in the last year by an economic downturn that eroded travel demand. Online travel companies responded by slashing fees and offering promotions to bolster bookings.
(Reporting by Kyle Peterson, editing by Dave Zimmerman) Keywords: EXPEDIA/ (kyle.peterson@thomsonreuters.com ; +1 312 408 8581; Reuters Messaging: kyle.peterson.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
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