Expedia Shares Climb After Second-quarter Revenue Beat

Shares of Expedia Inc. were up 3% after hours Thursday after the company beat second-quarter revenue expectations. It reported net income of $56.7 million, or 36 cents per share, up from $31.6 milion, or 21 cents per share, in the year-earlier period. It reported adjusted earnings per share of 89 cents, below the FactSet consensus of 94 cents. Revenue was $2.59 billion, up from $2.2 billion in the year-earlier period and above the FactSet consensus of $2.55 billion. Alongside the earnings, Expedia announced a $350 million minority investment in Traveloka Holding Limited, a Southeast Asian online travel company. Shares of Expedia have gained 13% in the past three months, outperforming the S&P 500 which was gained 4%.