Expedia Inc. (NASDAQ: EXPE) reported a fourth-quarter profit Thursday, moving from a loss last year as it was helped by increased gross bookings, according to Associated Press.
Expedia also declared its first-ever quarterly dividend.
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The company earned $102.2 million, or 35 cents per share, for the period ended Dec. 31, compared to a loss of $2.76 billion, or $9.62 per share, a year earlier.
Taking out restructuring charges and other items, profit was 30 cents per share.
The performance beat the 29 cents-per-share estimate of analysts polled by Thomson Reuters. These estimates typically exclude one-time items.
Revenue improved to $697.5 million from $620.8 billion on strength overseas as gross bookings grew to $5.05 billion from $4.02 billion. Wall Street predicted revenue of $689.7 million.
Expedia said its domestic bookings rose 19 percent in the quarter, as international booking climbed 38 percent.
For the year, Expedia reported a profit of $299.5 million, or $1.03 per share. That compares with a loss of $2.52 billion, or $8.80 per share, in 2008.
Adjusted earnings were $1.03 per share.
Annual revenue rose to $21.81 billion from $21.27 billion.
Expedia initiated a quarterly dividend of 7 cents, which will be paid on March 31 to shareholders of record March 11. Based on current shares outstanding, the company estimates the payout will amount to $20 million.
Expedia's stock fell $1.36, or 6.1 percent, to $20.88 in afternoon trading. The shares have traded in a 52-week range of $6.31 to $27.51.
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