Strong third financial quarter for Expedia Inc and its myriad of brands, especially in terms of growing the international businesses, with a 17% jump in revenues on the same period last year.
The company saw revenues increase from $1.02 billion in the third quarter of 2011 to $1.19 billion in the same period of 2012, an increase of 17%.
Adjusted EBITDA also climbed by 6% from $277.7 million in Q3 last year to $293.6 million in 2012.
Expedia says a 27% increase in room nights y/y across all its territories was central to the strong performance with international "points of sale" accounting for over half of total room nights.
This, the company says, represents a "significant milestone of our international business", particularly on the main Expedia and Hotels.com brands.
Macquarie Securities says:
- "Conversion improvements for the Expedia-brand appear to be a driver, and with better technology now in place, EXPE is ramping its marketing spend, helping drive further volume."
Nevertheless, air revenue declined over the reporting period y/y by 10%, primarily because of a 19% fall in revenue -per-ticket.
Global hotel revenue jumped by 20% over the same period.