Expedia reports 24% increase in Q4 revenue

By Danny King
Expedia Inc. beat analysts’ estimate for fourth-quarter revenue, as the company benefited from a continued resurgence in hotel bookings.

Expedia’s fourth-quarter revenue jumped 24% from a year earlier to $974.9 million. Analysts in a Thomson Reuters survey forecast $930.7 million in revenue. 

The company's shares were up about 4% in after-hours trading Tuesday afternoon.

Expedia boosted room-night bookings by 33% from a year earlier. Air bookings rose 7%. Such growth more than offset a 3% decline in average room rate.

Expedia’s net income fell 90% to $6.73 million on a one-time charge of $110 million, a legal-reserves charge stemming from Hawaii’s recent decision to hold online travel agencies accountable for unpaid excise taxes.

A Hawaii judge last month said that OTAs collectively owed about $150 million in unpaid back taxes and interest accumulated during the past decade.

Follow Danny King on Twitter @dktravelweekly. 
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