ON-LINE agency Expedia has reported a net profit of £13.4
million for the quarter ending December 31, 2001, up from a loss of £2.1
million in the same period last year.
Total bookings reached £499 million for the quarter, up 48%
on last year, while the company’s total revenues for the period were £58.1
million, a rise of 84% compared to last year.
Expedia senior vice president and chief financial officer Gregory
Stanger said: “We accomplished these record results in spite of the travel
slowdown caused by the economy and events of September 11. Our results indicate
that we have put together a robust business model and a strong consumer brand
that enables us to weather business cycles.”