Expedia Investors Earn A Vacation After Co. Smashes Q4 Sales Expectations
Expedia Inc (NASDAQ: EXPE) smashed analyst expectations for its fourth quarter in its financial release after market close Wednesday.
The company posted adjusted earnings of $0.77 per share against the Street's expected $1.02. Sales came in $200 million ahead of the Street as the company posted $1.938 billion in revenue against consensus of $1.72 billion.
Editor's note: A previous version of this story said the company reported EPS of $2.12. This was the unadjusted figure.
For the quarter, total bookings and revenue increased 40 percent and 29, respectively, year-over year. Revenue per room night decreased by 11 percent, however, but the company attributed that to macro developments in the hospitality sector.
"Revenue per room night decreased primarily due to deliberate margin reductions aimed at expanding the size and availability of the global hotel supply portfolio," the company said in the release.
Investor confidence gave Expedia shares a boost in after-hours action, with the stock trending up 15 percent at $108.
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