Expedia posted a second-quarter profit above analysts' expectations and announced a larger dividend as travel bookings grow, sending its shares up more than 7 percent in after-market trade. Gross bookings rose 19 percent, in large part from growth at Expedia.com and Hotels.com.
Expedia, which became the world's largest online travel services company by bookings in the first quarter, earned $449.6 million (roughly Rs. 2,877 crores) in the second quarter. On an adjusted basis, it earned $118.6 million (roughly Rs. 759 crores), or 89 cents per share, compared to analysts' average estimate of 84 cents per share, according to Thomson Reuters I/B/E/S.
The company, which owns the website that bears its name as well as Hotels.com, Hotwire and a host of other brands, said its board of directors approved a 33 percent rise in its September dividend to 24 cents per share.
Its revenue increased 11 percent in the second quarter compared to a year earlier.
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