Shares of Expedia rose Thursday after the Bellevue online travel giant posted a solid first quarter, reporting adjusted net income of $21.5 million on revenues of $1.2 billion. Those results beat analysts’ expectations.
The stock was up four percent in regular trading, and inched up another point in after hours. Expedia is up 26 percent in the past year.
Expedia — which saw revenue rise 19 percent on a year-to-year basis — said that room nights grew 24 percent during the quarter. The company also said that it took control of the Travelocity Web site during the first quarter.
It finished the quarter with $2.2 billion in cash, cash equivalents and short-term investments, and free cash flow jumped 13 percent to $896.7 million.
