Expedia released its Q1 2010 results this afternoon. As summary is as follows:
- Number of transactions - 15.8 million (up 18% from 13.5 million y/y)
- Revenue - $717.9 million (up 13% from $635.7 million y/y)
- Operating income before amortisation - $142.5 million (up 10% from £129.8 million y/y)
- Adjusted net income - $77.7 million (up 24% from $62.8 million y/y)
- Free cash flow - $589.9 million (up 23% $478.6 million y/y)
Dara Khosrowshahi, Expedia, Inc.’s CEO and President:
"Expedia delivered solid first quarter results amidst a return to relatively normal economic and travel conditions. We saw broad based strength across our businesses, with 18% growth in transactions and 34% growth in advertising revenues. We remain confident that Expedia’s diversified portfolio of business models, brands and geographies will serve us well in 2010 and beyond."
Dara Khosrowshahi, Expedia Inc chief executive and president, says:
"Expedia delivered solid first quarter results amidst a return to relatively normal economic and travel conditions. We saw broad based strength across our businesses, with 18% growth in transactions and 34% growth in advertising revenues. We remain confident that Expedia’s diversified portfolio of business models, brands and geographies will serve us well in 2010 and beyond."