Expedia reported a first quarter loss against a profit a year earlier after accounting for “discontinued operations”.
Q1 revenues up but profits down, reports Expedia
Expedia reported a first quarter loss against a profit a year earlier after accounting for “discontinued operations”.
But earnings from continuing operations and revenue rose.
The company had a net loss of $3.3 million in the first quarter, compared with profits of $52 million a year earlier. Quarterly revenue rose 12% to $816.5 million.
An increase in hotel room nights booked through its sites such as Hotels.com helped the results.
Total room nights booked rose 24% from a year ago, while Hotels.com saw a 37% increase in hotel bookings. US revenue rose 11% to $491 million, while revenue from international sources climbed by 14% to $325 million.
The company reported total gross bookings of $8.42 billion in the three months, up 15% from the same period a year ago. Chief executive Dara Khosrowshahi said that results still were not where the company would like them to be, although they did improve.
He said stand-alone room night volume on Expedia accelerated in the first quarter from the final quarter of last year, benefiting from its movement onto the company’s new technology platform.
