Expedia (EXPE) Tops Q2 EPS by 27c

Expedia (NASDAQ: EXPE) reported Q2 EPS of $0.67 and non-GAAP EPS of $1.03, $0.27 better than the analyst estimate of $0.76. Revenue for the quarter came in at $1.49 billion versus the consensus estimate of $1.44 billion.

• Gross bookings growth of 29% and revenue growth of 24% were primarily driven by strong hotel room night and air ticket growth. Revenue growth was also driven by strength in advertising and media revenue which grew 54% to $123 million for the quarter.
• Room night growth accelerated sequentially to 28% year-over-year in the second quarter of 2014 from 24% reported in the first quarter of 2014, with domestic room night growth accelerating to 24% year-over-year.
• Brand Expedia® substantially completed the migration of the US and Canadian Travelocity-branded websites and mobile applications to the Expedia platform during the first half of 2014.
• The combination of healthy top-line growth and leverage on fixed costs led to Adjusted EBITDA* improving 35% compared to the second quarter of 2013.
• Year to date, Expedia, Inc. repurchased 5.0 million shares of its common stock for approximately $362 million excluding transaction costs.
• Subsequent to quarter end, the Executive Committee of Expedia’s Board of Directors approved a 20% increase in the cash dividend payable in September, raising the dividend to $0.18 per share of outstanding common stock.

For earnings history and earnings-related data on Expedia (EXPE) click here.

You May Also Be Interested In

• Tesla touts acceleration of new models, but Q1 results fall short of estimates
• Equity Residential (EQR) Tops Q1 EPS by 44c; offers guidance
• IDEX Corp. (IEX) Tops Q1 EPS by 13c ; Offers Guidance