Expedia Reports 2015 First Quarter Results
Photo courtesy of Expedia Inc.
Expedia Inc. reported its 2015 first quarter financial results on Thursday, boasting gains in several key performance metrics.
That includes increases in room night growth, gross bookings, revenue, adjusted EBITDA (excluding eLong) and diluted earnings per share (EPS).
Room night growth accelerated by 32 percent in the first quarter, compared to the first quarter of 2014. Domestic and international room nights jumped by 23 percent and 41 percent, respectively.
Gross bookings increased by 19 percent year-over-year, while revenue increased 14 percent. Gross bookings were driven by core OTA performance, according to Expedia, including Expedia.com and Hotels.com. Revenue was also driven mainly by Expedia.com and Hotels.com, as well as trivago.
Consolidated adjusted EBITDA decreased by 5 percent, including eLong, as eLong continues to invest more in the Chinese market. Adjusted EBITDA, excluding eLong, jumped by 25 percent year-over-year, driven by the core OTA business, trivago and Egencia. Adjusted EBITDA for core OTAs, specifically, increased by 20 percent in the first quarter of 2015, compared to the same period last year. Expedia.com, Hotels.com and the Expedia Affiliate Network were major factors, partially offset by Hotwire.
Diluted EPS came in at $0.34, while adjusted EPS for the quarter was ($0.03), 12 cents less than the consensus estimate of $0.09.
Analysts are split on Expedia’s value currently, with the company’s stock having an average rating of “Hold” and a consensus price target of $90.29.
Expedia added approximately 14,000 properties to its portfolio during the first quarter of 2015, more than double the pace set in the first quarter of 2014.
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