Shares of Expedia jumped more than 13 percent as the Bellevue online travel company reported stronger revenue and profits than analysts expected in part buoyed by hotel room sales in Asia-Pacific and Europe. (Stock price has been updated).
Revenue grew 17 percent to $1.19 billion, while adjusted net income increased four percent to $188 million, or $1.32 per share. Analysts polled by Thomson Reuters expected $1.26 per share for the quarter, and revenue of $1.17 billion.
CEO Dara Khosrowshahi said in a conference call with analysts that it is shaping up to “be quite a good year,” noting strong positions in China through its eLong partnership as well as key investments in mobile.
Expedia continues to invest heavily in new technology services, and as part of that effort it recently opened a 42,000 square foot technology center in Gurgaon, India with room for 300 employees.
Full earnings report here.