Expedia's shares rallied 9% Friday, after the online travel operator crushed earnings estimates for the second quarter and won some hard-earned praise from analysts.
Expedia posted net income of $1 million, compared with $57 million in the year-ago period. Revenue rose 11% to $2.88 billion, from $2.58 billion a year ago, and room nights grew 12% and total gross bookings were up 13%.
“Note that while we are pleased with our results to this point, we still have a lot of work to do with more than 100% of our dollar growth in adjusted EBITDA ahead of us in the second half of the year,” Pickerill told analysts. “We have strong operational momentum and believe we are well positioned to continue delivering healthy top-line and profit growth in the near-term, while investing in key initiatives to drive sustained growth over the long-term.”
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