Expedia 4Q profit plunges 90 percent on charges - 13 WTHR Indianapolis

Expedia 4Q profit plunges 90 percent on charges

Posted: Updated:
  • HeadlinesHeadlines

  • Tuesday, June 18 2013 8:12 PM EDT2013-06-19 00:12:36 GMT
    The U.S. Environmental Protection Agency says it's cleaning up a large amount of toxic mercury found at a residence in a small central Indiana city. The EPA said Tuesday that residents of the Elwood home
    The U.S. Environmental Protection Agency says it's cleaning up a large amount of toxic mercury found at a residence in a small central Indiana city.
  • Tuesday, June 18 2013 7:59 PM EDT2013-06-18 23:59:14 GMT
    The mayors of New York, Los Angeles, Chicago and 15 other cities are reviving a push against letting government food vouchers be used to buy soda and other sugary drinks. In a letter to congressional
    The mayors of New York, Los Angeles, Chicago and 15 other cities are reviving a push against letting government food vouchers be used to buy soda and other sugary drinks.
  • Tuesday, June 18 2013 6:56 PM EDT2013-06-18 22:56:24 GMT
    The Republican-led House has passed a far-reaching anti-abortion bill, giving conservatives a claim to progress in their campaign against legal abortions and Democrats another reason to claim that the
    The Republican-led House has passed a far-reaching anti-abortion bill, giving conservatives a claim to progress in their campaign against legal abortions and Democrats another reason to claim that the Republican agenda is anti-women.
BELLEVUE, WASHINGTON -

Soaring hotel bookings pushed revenue higher at Expedia Inc., but the online travel agency's fourth-quarter profit fell 90 percent because of money it set aside to appeal a tax dispute in Hawaii.

Nights booked for hotel stays jumped 33 percent as demand grew for a second straight quarter in Europe, Asia and the Americas. Room nights rose 19 percent in the U.S., the best gain in two years. The average room rate fell 3 percent.

Investors seemed to focus less on the bottom line and more on the strong hotel sales and surprising 24 percent jump in revenue. Expedia shares rose in after-hours trading, adding to gains during the regular session.

Expedia said that it earned $6.7 million, or 5 cents per share, down from $70.3 million, or 44 cents per share, in the fourth quarter of 2011.

The results included $111 million that Expedia expects to pay to appeal a ruling on the way that hotel-occupancy taxes are calculated in Hawaii. Expedia could get back some or all of the money if it wins on appeal.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

Powered by WorldNow
Links to the FCC website to view WTHR and/or WALV’s on-line public inspection files:
WTHR: https://stations.fcc.gov/station-profile/WTHR   ||   WALV: https://stations.fcc.gov/station-profile/WALV
Individuals with disabilities may contact Jill Pursell at publicfile@wthr.com, or 317.655.5602, for assistance with access to the public inspection files.
Powered by WorldNowAll content © Copyright 2000 - 2013 WorldNow and WTHR. For more information on this site, please read our Privacy Policy and Terms of Service.