Investors Sell Shares of Expedia and Scripps After Earnings
Expedia Inc. (NASDAQ:EXPE) reported its results for the fourth quarter. Net income for the lodging company fell to $70.3 million (51 cents per share) vs. $71.3 million (50 cents per share) a year earlier. This is a decline of 1.4% from the year earlier quarter. Revenue rose 6.7% to $787.1 million from the year earlier quarter. Expedia Inc. reported adjusted net income of 58 cents per share. By that measure, the company fell short of mean estimate of 62 cents per share. It fell short of the average revenue estimate of $815.3 million.
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).
Scripps Networks Interactive Inc. (NYSE:SNI) reported its results for the fourth quarter. Net income for Scripps Networks Interactive Inc. rose to $135 million (84 cents per share) vs. $130.6 million (77 cents per share) in the same quarter a year earlier. This marks a rise of 3.4% from the year earlier quarter. Revenue rose 9.5% to $553.5 million from the year earlier quarter. Scripps Networks Interactive Inc. beat the mean analyst estimate of 81 cents per share. Analysts were expecting revenue of $562.4 million.
“The high level of engagement our focused lifestyle networks have created with media consumers, and the value our television and interactive brands deliver to advertisers as preferred marketing platforms, is reflected in the company’s strong fourth-quarter operating results,” said Kenneth W. Lowe, chairman, president and chief executive officer of Scripps Networks Interactive. “Our consistent track record of double-digit revenue and segment profit growth continued during the three-month period, and contributed to a very good 2011.”
Competitors to Watch: Discovery Communications Inc. (NASDAQ:DISCA), CBS Corporation (NYSE:CBS), Crown Media Holdings, Inc (NASDAQ:CRWN), Liberty Global Inc. (NASDAQ:LBTYA), Liberty Media Corp (NASDAQ:LINTA), The Walt Disney Company (NYSE:DIS), NTN Buzztime, Inc. (AMEX:NTN), Outdoor Channel Hldgs., Inc. (NASDAQ:OUTD), and Belo Corp. (NYSE:BLC).
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