This time last year, shares in Expedia soared 45 per cent as it reported impressive earnings.
But in a statement today, the company said gross bookings increased 21 per cent in 2015, to $60.8bn, while revenues rose a more modest 16 per cent to $6.7bn.
Meanwhile, adjusted earnings per share fell to $0.77 in the fourth quarter, from $0.86 – against expectations of $1.05.
But investors seemed encouraged: after shares fell briefly in after-hours trading, they later rallied by 1.2 per cent, to $96.
The company admitted it had been affected by terrorist attacks in Paris in November last year.
"[The attacks] negatively impacted adjusted ebitda by an estimated $10m to $15m and adjusted ebitda growth by approximately four to five percentage points for the fourth quarter of 2015," it said.