Expedia tops 2Q profit forecasts
Jul. 28, 2016
BELLEVUE, Wash. (AP) — Expedia Inc. (EXPE) on Thursday reported second-quarter net income of $31.6 million.
On a per-share basis, the Bellevue, Washington-based company said it had profit of 21 cents. Earnings, adjusted for one-time gains and costs, came to 83 cents per share.
The results topped Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 73 cents per share.
The online travel company posted revenue of $2.2 billion in the period, which missed Street forecasts. Seven analysts surveyed by Zacks expected $2.24 billion.
Expedia shares have declined 4 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 6 percent. In the final minutes of trading on Thursday, shares hit $119.27, a climb of 11 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on EXPE at http://www.zacks.com/ap/EXPE
Keywords: Expedia, Earnings Report