Travel giant Expedia (EXPE) released the financial results for the fiscal 2012 first quarter after Thursday’s closing bell, which outperformed the Wall Street analyst estimates. EXPE stock price skyrocketed 23.54%, or $7.68, to finish at $40.31 per share; calculated by the EXPE stock closing price, the company’s market capitalization reached $ 5.24 billion.
Expedia reported the first quarter revenues of $816.5 million, an increase of 12%, compared with $727.8 million in the same period last year, exceeding the average analyst estimate of $792.3 million; net loss was $3.3 million, or 2 cents per share, worse than the same period last year. Adjusted net profit was reported at $36.9 million, or earnings per share of 26 cents, exceeding the average analyst projection of 15 cents per share.
Also read the related article: EXPE stock price surged 18.30% as better-than-expeceted Q1 results.