Expedia posts $96.1m in net income in 2Q
Online travel agency Expedia’s second-quarter net income rose to $96.1 million, or 30 cents a share, from $95.5 million, or 27 cents per share a year earlier. (8/3/2007)
Gross bookings increased 14 percent for the second quarter of 2007 compared with the second quarter of 2006.
Revenue increased 15 percent for the second quarter, primarily driven by increased worldwide merchant hotel revenue and advertising and media revenue, partially offset by a decline in North America air revenue. North America revenue increased 11 percent, Europe revenue increased 30 percent (23 percent excluding the impact of foreign exchange) and Other revenue increased 28 percent.
“There is no more positive statement we could make about our confidence in Expedia than our current tender offer and outstanding share repurchase authorisation,” said Barry Diller, Expedia, Inc.’s Chairman and Senior Executive.
Dara Khosrowshahi, Expedia Inc.’s CEO and President said, “With the combination of our highest revenue growth rate in nearly two years, continued momentum at Expedia.com and strong growth in our advertising and media businesses, we are increasingly confident in our strategy and poised for continued execution in 2007 and beyond.”