BELLEVUE, Washington — Expedia Inc. (EXPE) on Thursday reported first-quarter net income of $44.1 million, after reporting a loss in the same period a year earlier.
The Bellevue, Washington-based company said it had profit of 34 cents per share. Losses, adjusted for one-time gains and costs, came to 3 cents per share.
The results fell short of Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of 7 cents per share.
The online travel company posted revenue of $1.37 billion in the period, which topped Street forecasts. Ten analysts surveyed by Zacks expected $1.34 billion.
Expedia shares have risen 10 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed slightly more than 1 percent. In the final minutes of trading on Thursday, shares hit $94.23, a climb of 33 percent in the last 12 months.
Keywords: Expedia, Earnings Report