BELLEVUE, Wash. (AP) — Expedia says travel trends are beginning to return to normal. The online travel company’s profit grew more than 50 percent in the first quarter.
Shares rose $1.99, or 8.1 percent, to $25.50 after hours.
Expedia said late Thursday that it earned $59.4 million, or 20 cents per share, for the quarter. That’s up from $39.4 million, or 14 cents per share, in the same quarter last year.
Adjusted for one-time items in both quarters, the company earned 26 cents per share — beating analyst expectations of 22 cents per share.
Expedia’s revenue grew 13 percent to $718 million, helped by higher prices and increased advertising. But the revenue fell short of analyst’s $722.4 million expectations.
