Expedia Books Earnings Beats!
Expedia Inc (EXPE) reported Q2 earnings after the bell today. EPS crushed the Zacks Consensus Estimate of $0.68, by posting an EPS of $1.03. Revenues also beat the Zacks Consensus Revenue Estimate of $1.444 billion, but announcing Revenues of $1.49 billion. This is a year over year growth of 44% for Earnings and 24% in Revenue.
The major diver behind the growth was Gross Bookings, which rose 29%, outpacing the consensus estimate of 23%-24%. Further, room night growth rose 28% beating the consensus estimate of 23%. Moreover, Booking.com, eLong, and Travelocity all saw strong growth numbers as well. Finally, management announced a 20% increase in their dividend, raising it to $0.18.
In afterhours trading, Expedia is up over 1% on mild volume.
Tomorrow, Zacks will post a detailed earnings report.
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