Expedia Inc. said its first-quarter revenue grew a bigger-than-expected 14% amid strong growth at its namesake and Hotels.com brands. For the first quarter, Expedia swung to a profit of $44.1 million from a year-earlier loss of $14.3 million.
Revenue increased 14% to $1.37 billion, topping the $1.35 billion projected by analysts polled by Thomson Reuters.
The results come as Expedia seeks approval of its purchase of rival Orbitz Worldwide Inc., which was unveiled in February. Regulators, however, are expected to take a hard look at the deal, and Expedia's shareholders are eager for information about that review. Expedia didn't address the regulatory process in Thursday's news release.
Over the past year, Expedia has been buying more brands to add new customers. The company in November closed a deal for Australia's Wotif Holdings Ltd. In the U.S., the company recently agreed to buy Sabre Corp.'s Travelocity brand.
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