expedia inc (EXPE) Key Developments
Expedia Inc. Presents at RBC Capital Markets' Technology, Internet, Media & Telecommunications Conference, Nov-13-2013 10:50 AM
Nov 7 13
Expedia Inc. Presents at RBC Capital Markets' Technology, Internet, Media & Telecommunications Conference, Nov-13-2013 10:50 AM. Venue: Hilton New York Hotel, 1335 Avenue of the Americas, 700 8th Avenue, New York, NY 10019, United States. Speakers: Mark D. Okerstrom, Chief Financial Officer and Senior Vice President of Corporate Development.
Expedia Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2013
Oct 30 13
Expedia Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2013. For the quarter, the company revenues of $1.40 billion higher than revenues of $1.19 billion reported a year ago. Operating income was $238.691 million against $227.090 million a year ago. Income from continuing operations before income taxes was $212.080 million against $204.338 million a year ago. Income from continuing operations was $166.724 million against $168.188 million a year ago. Net income attributable to the company was $170.859 million against $171.477 million a year ago. Diluted earnings per share attributable to the company were was $1.22 against $1.20 a year ago. Adjusted EBITDA was $339.897 million against $293.576 million a year ago. Adjusted net income was $200.945 million against $187.998 million a year ago. Adjusted earnings per share from continuing operations were $1.43 against $1.32 a year ago.
For the nine months, the company revenues of $3,619.244 million against $3,055.488 million reported a year ago. Operating income was $227.349 million against $430.214 million a year ago. Income from continuing operations before income taxes was $180.232 million against $366.029 million a year ago. Income from continuing operations was $122.371 million against $295.884 million a year ago. Net income attributable to the company was $138.133 million against $273.437 million a year ago. Diluted earnings per share attributable to the company were $0.98 against $2.12 a year ago. Net cash provided by operating activities from continuing operations was $975.415 million against $1,453.908 million a year ago. Capital expenditures, including internal-use software and website development was $235.416 million against $176.980 million a year ago. Adjusted EBITDA was $636.727 million against $618.295 million a year ago. Adjusted net income was $326.460 million against $349.627 Adjusted earnings per share from continuing operations were $2.30 against $2.48 a year ago.
Expedia Inc. Declares Quarterly Cash Dividend, Payable on December 12, 2013
Oct 30 13
Expedia Inc. has declared quarterly cash dividend of $0.15 per share of outstanding common stock payable on December 12, 2013 to stockholders of record as of the close of business on November 21, 2013.
Pomerantz Grossman Hufford Dahlstrom & Gross LLP Files Class Action Lawsuit Against Expedia, Inc. and Certain of its Officers
Oct 21 13
Pomerantz Grossman Hufford Dahlstrom & Gross LLP has filed a class action lawsuit against Expedia Inc. and certain of its officers. The class action, filed in United States District Court, Western District of Washington, and docketed under 13-cv-01735, is on behalf of a class consisting of all persons or entities who purchased or otherwise acquired securities of Expedia between July 27, 2012 and July 25, 2013 both dates inclusive. This class action seeks to recover damages against the Company and certain of its officers and directors as a result of alleged violations of the federal securities laws pursuant to Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business and operations. Specifically, Defendants made false and misleading statements and/or failed to disclose that: that following the spin-off, TripAdvisor had been directing a significant amount of lucrative web traffic to Expedia pursuant to an informal strategic partnership between the two companies that inured to the benefit of Expedia and to the detriment of TripAdvisor; that the lucrative web traffic directed to Expedia from TripAdvisor following the spin-off had been a material source of Expedia's outsized revenues following the spin-off; that TripAdvisor would stop directing web traffic to Expedia in early 2013; and that performance at the Company's Hotwire unit was failing. On July 25, 2013, after the close of trading, Expedia issued a press release announcing its second quarter 2013 financial results for the quarter ended June 30, 2013. Expedia's second-quarter 2013 profit fell to $71.5 million from $105.2 million a year earlier. Overall, bookings rose only 13%, well below the 19% surge the Company posted during fiscal 2012. The Company also lowered its guidance for 2013 adjusted earnings, predicting growth in the mid to high single digits. On this news, Expedia shares declined $17.80 per share or nearly 27%, to close at $47.20 per share on July 26, 2013.
Expedia Inc. to Report Q3, 2013 Results on Oct 30, 2013
Oct 16 13
Expedia Inc. announced that they will report Q3, 2013 results at 5:00 PM, Eastern Standard Time on Oct 30, 2013