Expedia Beats Q3 EPS And Revenue Expectations
Expedia Inc (NASDAQ: EXPE) reported third quarter financial results Thursday.
The company reported revenue of $1.712 billion, above estimates of $1.68 billion and above the $1.401 billion reported for the same period in 2013.
Adjusted EPS was $1.93, beating estimates of $1.74 and above the $1.44 reported for the previous year period.
Gross bookings grew 29 percent and revenue grew 22 percent, which were primarily driven by strong hotel room night and air ticket growth. Revenue growth was also driven by strength in advertising and media revenue, which grew 29 percent to $141 million for the quarter.
Room nights expanded 24 percent year-over-year, driven by continued strong performance at Brand Expedia and Hotels.com, with both domestic and international room nights increasing 24 percent year-over-year.
The company's press release noted that year to date, Expedia repurchased 6.5 million shares of its common stock for approximately $492 million excluding transaction costs.
Expedia traded at $82.15 in the after market session, up 1.76 percent.
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