Expedia reports ‘robust’ summer peak quarter financial results

Expedia reports ‘robust’ summer peak quarter financial results

Expedia saw total bookings rise by 21% in the summer peak quarter with adjusted earnings up by 13%.

EBITDA (earnings before interest, taxes, depreciation, and amortization) at the online travel giant came in at $469 million in the three months to September 30 with room night growth of 36%.

Revenue was up by 16% to $1.9 billion to give net income of $283 million, a rise of 8% year-on-year.

The company, which finalised the $1.6 billion takeover of Orbitz Worldwide in September, said a “solid performance” in the core OTA segment drove earnings growth in the quarter.

Total gross bookings increased 21%, including strong performances from its Expedia and Hotels.com brands.

“Robust” room night and air ticket growth were partially offset by year-over-year declines in average daily room rates and air fares, the company reported.

International bookings totalled $5.8 billion and accounted for 38% of worldwide bookings, consistent with the third quarter last year.

Expedia added more than 14,000 properties to its global supply portfolio, which now stands at 271,000 properties available across its website, an increase of 29% compared to the third quarter of 2014.

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