BELLEVUE, Wash., Feb. 19: Expedia, Inc. today announced financial results for its fourth quarter and year ended December 31, 2008.
"The story of 2008 -- and 2009 for that matter -- is clearly the global recession and its impact on nearly every sector of our economy," said Barry Diller, Expedia, Inc.´s Chairman and Senior Executive. "When we emerge from this downturn is anyone´s guess, but what certainly is not a guess is Expedia´s global leadership in travel and our conservative management, both of which will allow us to weather a downturn of almost any length and come out stronger than when this mess began."
"While we have taken a substantial write down of the accounting value of our goodwill largely due to significant stock market declines, we believethat the core value of the Expedia brands and marketplace are considerable and lasting," said Dara Khosrowshahi, Expedia Inc.´s CEO and President. "We remain focused on growing shareholder value by improving our offerings to travelers, suppliers and advertisers, as well as ensuring appropriate spending and investment levels for this historically difficult demand environment."
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