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EXPEDIA INC (EXPE)
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Expedia : Shares Slide as Costs Weigh on Bottom Line -- Update

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02/09/2018 | 12:28am CET
By Imani Moise 

Shares in Expedia Inc. plunged more than 18% in extended trading Thursday after the travel company reported earnings were hurt by increased spending.

Rising costs in the fourth quarter outpaced sales growth, and the company forecast even more spending ahead as it focuses on cloud infrastructure and marketing investments. The travel booking company operates Expedia.com, Hotels.com and Orbitz.com among other websites.

On a call with analysts, finance chief Alan Pickerill said technology spending is expected to accelerate significantly faster than sales growth in 2018.

Cloud spending, which climbed to $18 million from $2 million in the fourth quarter, is expected to total $170 million for 2018.

The stock also plunged in October after the company warned investors following its third-quarter earnings report that it would ramp up spending to try to increase sales and fend off competitors like Priceline Group Inc. Expedia said it is transitioning its technology infrastructure to the cloud to expand its computing power.

For Expedia sales grew 11% to $2.32 billion in the fourth quarter, but total expenses jumped 16%. Direct costs for selling and marketing were $121 million higher than the comparable year-ago period, the company said.

Overall for the fourth quarter Expedia missed analysts' views. The company reported a profit of $55.2 million, or 35 cents a share, down from $79.5 million, or 51 cents a year earlier. The most recent quarter was helped by a one-time $14 million benefit related to the recent tax overhaul. On an adjusted basis per-share earnings fell to 84 cents from $1.17.

Analysts polled by Thomson Reuters had forecast earnings of $1.15 a share on $2.36 billion in sales.

Write to Imani Moise at [email protected]

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Financials ($)
Sales 2018 11 288 M
EBIT 2018 1 145 M
Net income 2018 401 M
Finance 2018 361 M
Yield 2018 1,19%
P/E ratio 2018 38,83
P/E ratio 2019 28,23
EV / Sales 2018 1,35x
EV / Sales 2019 1,14x
Capitalization 15 590 M
Chart EXPEDIA INC
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Expedia Inc Technical Analysis Chart | EXPE | US30212P3038 | 4-Traders
Technical analysis trends EXPEDIA INC
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Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 30
Average target price 135 $
Spread / Average Target 32%
EPS Revisions
Managers
NameTitle
Mark D. Okerstrom President, Chief Executive Officer & Director
Barry Charles Diller Chairman
Alan Pickerill Chief Financial Officer, Treasurer & Executive VP
Dara Khosrowshahi Director
Victor A. Kaufman Vice Chairman
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