S&P 500 (NYSE:SPY) component Expedia, Inc. (NASDAQ:EXPE) reported a lower net income in the first quarter compared with a year earlier. Expedia Inc. provides travel products and services to leisure and corporate travelers in the United States and abroad as well as various media and advertising offerings to advertisers.
Expedia Earnings Cheat Sheet for the First Quarter
Results: Net income for Expedia, Inc. fell to $52 million (19 cents/share) vs. $59.4 million (20 cents/share) a year earlier. A decline of 12.4% from the year earlier quarter.
Revenue: Rose 14.5% to $822.2 million YoY.
Actual vs. Wall St. Expectations: EXPE reported adjusted net income of 25 cents per share. By this measure, the company fell short of the mean analyst estimate of 26 cents/share. Estimates ranged from 23 cents per share to 28 cents per share.
Key Stats: From the fourth quarter of the last fiscal year, the company’s current liabilities rose to $2.65 billion from $1.89 billion.
The company has now seen net income fall in each of the last two quarters. In the fourth quarter of the last fiscal year, net income fell 30.3% from the year earlier quarter.
Gross margins grew 0.4 percentage point to 78.4%. The growth seemed to be driven by increased revenue, as the figure rose 14.5% from the year earlier quarter while costs rose 12.5%.
Over the last five quarters, revenue has increased 13.5% on average year over year. The biggest increase came in the fourth quarter of the last fiscal year, when revenue rose 15.9% from the year earlier quarter.
Competitors to Watch: Orbitz Worldwide, Inc. (NYSE:OWW), Travelzoo Inc. (NASDAQ:TZOO), priceline.com Incorporated (NASDAQ:PCLN), MakeMyTrip Limited (NASDAQ:MMYT), Ctrip.com Intl., Ltd. (NASDAQ:CTRP), eLong, Inc. (NASDAQ:LONG) and American Airlines (NYSE:AMR).
Today’s Performance: Shares of EXPE are up a couple pennies in after hours trading.