EXPEDIA has revealed better-than-expected results for the
quarter ending September 30, despite a sharp drop in transactions following
events in the US.
The company reported profits of $15.1 million for the
quarter, twice what Wall Street analysts had predicted.
Gross bookings, minus cancellations, were $723 million, up
55% on the same quarter last year. Transaction levels are now at 80 to 85%
pre-September 11 levels.
Expedia.co.uk managing director James Vaile commented: “The
strengths of our product and business model have helped us weather the storm
experienced by the travel industry since the terrible events of September 11.
While we expect these events to continue to affect our results, the steadily
recovering travel business and our strong balance sheet will allow us to
continue to build on our past success.”