Online travel booking company Expedia Inc. posted a sharp drop in its second-quarter profit Thursday, but adjusted earnings sailed past Wall Street's expectations, sending shares higher in morning trading.
story continues below>
The company earned $40.9 million, or 14 cents per share, down 57 percent from $96.1 million, or 33 cents per share, in the same period a year earlier.
Adjusted earnings amounted to 38 cents per share in the latest quarter and excluded stock option expenses, restructuring charges and other items.
Revenue fell 3 percent to $769.8 million from $795 million.
source|http://www.businessweek.com/ap/financialnews/D99OR25G0.htm
Sunday, August 02, 2009