THIS STORY HAS BEEN FORMATTED FOR EASY PRINTING
MARKET MOVERS

Expedia beats estimates in 2d quarter

Online travel website Expedia drew positive analyst reviews. Online travel website Expedia drew positive analyst reviews. (Istockphoto.Com)
July 30, 2011

E-mail this article

Invalid E-mail address
Invalid E-mail address

Sending your article

Your article has been sent.

Text size +

Online travel website Expedia Inc. raised its forecast after second-quarter earnings of 55 cents a share beat average estimates by 12 percent, according to Bloomberg. Expedia said net income in the period came to $140.4 million. That beat the 49 cents that analysts polled by FactSet expected, on average. Revenue grew 23 percent to $1.02 billion, besting forecasts of $965 million. Executives said they expect operating earnings to rise by a “mid-to-high single digit’’ percentage from last year, slightly more optimistic. Analyst Naved Khan at Jefferies & Co. sees the planned fourth-quarter spin-off of the Newton-based travel review site TripAdvisor as one reason to be positive on the stock in the near term. He raised his price target and kept a “buy’’ rating on the shares.