Expedia (EXPE) Meets Earnings Estimates, Gross Bookings Up 21%

Expedia Inc. (NASDAQ:EXPE) just released its third quarter fiscal 2016 financial results, posting earnings of $2.24 and revenue of $2.6 billion. EXPE is a Zacks Rank #3 (Hold), and is up 2.04% to $129.00 per share in after-hours trading shortly after its earnings report was released.

Met earnings estimates. The company reported earnings of $2.24 per share, matching the Zacks Consensus Estimate of $2.24 per share. This number excludes 43 cents from non-recurring items

Beat revenue estimates. The company saw revenue figures of $2.6 billion, just edging past our consensus estimate of $2.557 billion and growing 33% year-over-year.

Gross bookings increased $3.1 billion, or 21% year-over-year, to $18.6 billion, while room nights stayed increased 17% year-over-year, with growth of 11% excluding Orbitz Worldwide.

Expedia saw its global lodging portfolio grow by over 14,000 properties during the quarter, or 19% year-over-year, bringing total hotel property count to over 321,000 available on its sites.

Year to date, Expedia repurchased 3.2 million shares of its common stock for approximately $349 million.

Here’s a graph that looks at Expedia’s price, consensus, and EPS surprise:

Expedia, Inc. is one of the world's leading travel services companies. The company provides wholesale travel to offline retail travel agents. Expedia, Inc.'s main businesses and brands include: Expedia.com, Hotels.com, Hotwire, Expedia Corporate Travel, Trip Advisor and Classic Custom Vacations. Expedia, Inc.'s companies also operate internationally with sites in Canada, the United Kingdom, Germany, France, Italy, Netherlands and China, through its investment in eLong.

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