Expedia Trades Higher After Q4 Earnings Report
Online travel-site Expedia (NASDAQ: EXPE) notched another strong quarter on Tuesday, sending shares up around 4 percent in late trading. Although net income was down sharply, excluding special charges, the business' bottom line grew in the period. Sales also showed strong momentum.
Expedia reported net income of $6.73 million or $0.05 per share, versus $70.33 million or $0.51 per share, last year.
On an adjusted basis, net income grew to $88.88 million or $0.63 per share, from $80.55 million or $0.58 per share, last year. This missed analysts' consensus estimates of $0.65 per share by two cents.
Sales grew in the period to $974.86 million from $787.13 million in last year's fourth-quarter. This easily topped Street consensus of $930.69 million and is contributing to the strength in the stock. The company is hitting on all cylinders right now and the stock has nearly doubled in the last year.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.