Expedia Soars on Q1 Earnings Results

Online travel site Expedia EXPE released its fiscal Q1 earnings results after the closing bell on Thursday. The company reported a net loss of $3.28 million or $0.02 per share, compared to net income of $52.04 million or $0.37 per share, in the year ago period. On an adjusted basis, which is comparable to analysts' consensus, EXPE reported EPS of $0.26 versus $0.16 last year. This came in well ahead of Wall Street analysts consensus EPS estimates of $0.15. Revenues in the quarter were $816.49 million compared to $727.84 million in last year's first quarter. This also easily exceeded analysts' consensus estimates of $790.91 million. In Thursday's after hours trading session, EXPE shares have soared 14.92% to $37.45 in the wake of the company's strong first quarter results.