Expedia Second-Quarter Results Beat Expectations

Online travel booking website Expedia (EXPE) posted better-than-expected revenue and earnings for its fiscal second quarter after markets closed on Thursday, buoyed by high-singe digit growth in gross bookings.

The Bellevue, Wash.-headquartered company reported revenue of $3.15 billion in the three months ended June 30, up 9% from the corresponding quarter of the prior year. This also exceeded the consensus estimate of analysts polled by Capital IQ for $3.13 billion.

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The jump in revenue — which included 3 percentage points of negative foreign exchange impact — was driven primarily by growth in Expedia Partner Solutions, Brand Expedia and Vrbo, the company said. Domestic revenue increased 13% and international revenue increased 5%, which included 6 percentage points of negative foreign exchange impact.

Also supporting the results was a 9% increase in gross bookings to $28.29 billion from $25.90 billion in the prior-year period. Growth in room nights — which represent stayed hotel room nights for Expedia’s core online travel agencies and corporate travel services provider Egencia, as well as property nights for its Vrbo segment — expanded by 12%. This was the same level of growth as registered a year earlier.