Increased air and hotel bookings helped Expedia achieve better than expected quarterly profits.
Expedia profits from rising air and hotel rates
Increased air and hotel bookings helped Expedia achieve better than expected quarterly profits.
The online travel agency giant saw third-quarter net profit rise to $176.6 million compared with $117 million a year earlier.
The total value of bookings rose 17% in the quarter to $6.89 billion. US bookings rose by 16% and international bookings gained 17%.
Gross bookings were driven by a 14% rise in transactions, a 9% rise in average air fares and a 4% rise in hotel average daily rates, the company said.
