U.S. online travel giant Expedia (EXPE) announced the fiscal year 2012 first quarter earnings report today, showing the first-quarter net loss of $3.3 million, compared to a net profit of $52 million a year ago. Expedia’s first-quarter results outperformed the analyst estimates promoting EXPE stock price to jump up substantially by 18.30% in the after-hours trading. Also read: EXPE stock price skyrocketed 23.54% Friday
Expedia posted a net loss of $ 3.3 million, or 2 cents a share for the first quarter ended March 31, worse than a net profit of $52 million, or earnings per share of 37 cents in the same period last year. Excluding one-time items, Expedia recognized an adjusted first-quarter net profit of $36.9 million, or earnings per share of 26 cents, which is better than expected. According to the survey by FactSet Research, analysts on average projected Expedia would post an earnings per share of 15 cents for the first-quarter.
Expedia booked $816.5 million in net sales for the first quarter, up 12% from $727.8 million in the same period last year, outperforming the consensus estimates. Analysts accepted the survey by FactSet Research on average projected Expedia would recognise revenues of $792.3 million for the first quarter. Expedia released first-quarter operating profit of $48.7 million, representing an increase of 38% compared with $35.2 million in the same period last year.
Expedia’s total first quarter cost and expense were $747.7 million, an increase of 12% from $669.7 million in the same period last year. The figure accounted for 91.6% of the total revenue, lower than 92.0% in the same period last year.
Expedia’s first quarter adjusted EBITDA were $101.8 million, an increase of 24% from $82 million in the same period last year. Expedia has purchased $291 million worth 880 shares of common stock this year to date.
EXPE stock price rose slightly by 0.96%, or $0.31, to close at $32.63 on the Nasdaq Stock Exchange in the regular trading. EXPE stock price subsequently surged 18.30% in the after-hours trading. Over the past 52 weeks, the highest EXPE stock price was $35.57, while the lowest price was $22.43.
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