Expedia’s Q2 Profit Falls 25%, but Adjusted Results Easily Beat View (EXPE)
Online travel agency Expedia Inc. ( EXPE ) late Thursday posted better-than-expected adjusted second quarter earnings results, sending its shares rocketing higher in aftermarket trading.
The Bellevue, WA-based company reported second quarter net income of $105.2 million, or 76 cents per share, compared with $140.4 million, or $1.01 per share, in the year-ago period. Excluding special items, adjusted profit was 89 cents per share.
Revenue rose 14% from last yer to $1.04 billion.
On average, Wall Street analysts expected a much lower profit of 71 cents per share, on smaller revenue of $987.3 million.
Expedia shares rose $5.29, or +12%, in aftermarket trading Thursday.
The Bottom Line
Shares of Expedia ( EXPE ) have a .61% dividend yield, based on today's closing stock price of $45.71. The stock has technical support in the $45 price area. If the shares can firm up, we see overhead resistance around the $55 price level.
Expedia Inc. ( EXPE ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.