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.


Latest Video

View all videos »

Search »

Just as the atom bomb was the weapon that was supposed to render war obsolete, the Internet seems like capitalism’s ultimate feat of self-destructive genius, an economic doomsday device rendering it impossible for anyone to ever make a profit off anything again. It’s especially hopeless for those whose work is easily digitized and accessed free of charge.

— Author Tim Kreider on not getting paid for one’s work