Expedia posts rise in profits

 
City A.M. Reporter
ONLINE travel agency Expedia reported a rise in quarterly profit yesterday led by a 24 per cent surge in revenues.

Adjusted for items, profit was $88.9m (£77.1m), or 63 cents a share, the company said last night on revenues of $975m.

Gross bookings rose 19 per cent year on year.

This compared to adjusted net income of $80.6m, or 58 cents a share for the fourth quarter ending 2011. Revenues this time last year came in at $787m.

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