expedia-app1Expedia shares are trading higher after the Bellevue-based online travel company posted double digit increases in gross bookings and revenues for the first quarter.

The company reported gross bookings of $14.9 billion for the quarter, up 19 percent over the same period last year. Meanwhile, revenues came in at $1.3 billion, up 14 percent.

The company topped analysts expectations, who were projecting earnings per share of 9 cents. Expedia posted earnings per share of 34 cents.

The stock gained more than three percent in after hours trading, with Expedia now valued at more than $12 billion.

Expedia, which recently announced plans to move its headquarters from Bellevue to Seattle’s waterfront, paying $229 million for the former Amgen campus along Elliott Bay, announced plans in February to buy rival Orbitz for $1.6 billion.

Expedia ended the quarter with cash, cash equivalents, restricted cash and short-term investments of $2.1 billion.

Full earnings report here.

 

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