Expedia Shares Fall 3% After Company Reports Adjusted Earnings Below Expectations

Shares of Expedia Inc. fell 3% late Thursday after the online travel company reported fourth-quarter adjusted earnings below expectations and quarterly sales in line with predictions. Expedia swung to earnings of $79.5 million in the quarter, versus a loss of $12.5 million in the year-ago period. Adjusted for one-time items, the owner of Travelocity and Hotels.com earned an adjusted $183 million, or $1.17 a share, in the quarter, compared with $107 million, or 77 cents a share, a year ago. Revenue reached $2.1 billion, from $1.7 billion a year ago. Analysts polled by FactSet had expected adjusted earnings of $1.36 a share. Shares ended the regular trading session up 0.3%.