Online travel company Expedia Inc.on Thursday reported a 23 percent increase in profit for the second quarter.
The Bellevue, Washington-based company’s net income for the second quarter rose to $140.39 million or $0.50 per share from $114.26 million or $0.40 per share in the prior-year period.
Revenues were up 23% year over year to $1.02 billion. This also beat Wall Street consensus revenue estimates of $962 million.
The company in April unveiled plans to spin off its TripAdvisor unit, best known for its user-generated reviews of hotels, to better separate its two business models. Expedia.com, Hotels.com and Hotwire act like online travel agents, while TripAdvisor is an advertising-driven travel-media company.
Expedia is meanwhile seeking new ways to grow its customer base with aggressive expansion of its core brands in South America and a recently announced partnership with the online deals service Groupon Inc.