Expedia Inc. (NYSE: EXPE) is looking solid on all fronts. Online travel is winning despite tight purses on direct travel as buyers look for better deals. Last night the online travel company beat earnings as its profits rose by 23%. Earnings were $117 million or $0.40 EPS net, but non-GAAP earnings were $0.48 EPS. Also noted was a 2% rise in revenue to $852.4 million. Thomson Reuters had estimates pegged at $0.43 EPS and $828.9 million in revenues. Then this morning came an acquisition in China.
The company’s TripAdvisor unit is acquiring Kuxun.cn, the second largest online travel site in China. Terms were not set in the release, although a report from China noted $10 million as being the investment. That is after the launch of DaoDao.com earlier this year and is expected to double the company’s China-related search for travel.
Expedia originally traded up last night but went out flat or slightly down depending on what time you use as a cut-off in after-hours trading. This closed at $24.30 yesterday and the 52-week range is $6.00 to $27.37.
JON C. OGG
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