Expedia misses 3Q profit forecasts, tops revenue views
Oct. 27, 2016
BELLEVUE, Wash. (AP) — Expedia Inc. on Thursday reported third-quarter net income of $279.3 million.
The Bellevue, Washington-based company said it had net income of $1.81 per share. Earnings, adjusted for amortization costs and stock option expense, were $2.41 per share.
The results did not meet Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of $2.52 per share.
A year ago the company earned $283.2 million, or $2.12 per share.
The online travel company posted revenue of $2.58 billion in the period, up 33 percent from a year ago and exceeding Street forecasts. Nine analysts surveyed by Zacks expected $2.56 billion. Domestic revenue rose 39 percent and international revenue was up 27 percent.
Expedia shares have climbed nearly 2 percent since the beginning of the year, while the Standard & Poor's 500 index has risen slightly more than 4 percent. The rose about 1 percent in after-hours trading following the earnings report.
Elements of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on EXPE at https://www.zacks.com/ap/EXPE
Keywords: Expedia, Earnings Report