Expedia's First-Quarter Profits Sink Despite Strong Hotel Bookings

Expedia reported mixed first-quarter earnings today, following the announcement earlier this month that the online travel agency was going to spin-off TripAdvisor, its fastest growing division. In the first quarter, profits sank 12 percent to $52 million, or 19 cents a share, on revenues of $822 million, which increased 15 percent compared to the year-ago period. The Bellevue, Wash.-based company said higher revenues were attributable to a jump in hotel room bookings and strong growth from its advertising and media business, including TripAdvisor. The company’s stock is down 78 cents, or 3.2 percent in after-hours trading.


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The problem with the Billionaire Savior phase of the newspaper collapse has always been that billionaires don’t tend to like the kind of authority-questioning journalism that upsets the status quo.

— Ryan Chittum, writing in the Columbia Journalism Review about the promise of Pierre Omidyar’s new media venture with Glenn Greenwald