Expedia revenue up 15% in 1Q2011

Expedia revenue up 15% - financial highlights for the three months ended 31-Mar-2011:

• Revenue: USD822.2 million, +15% year-on-year;
• Operating profit: USD108.2 million, -4%;
• Net profit: USD52.0 million, -12%;
• Transactions: 17.1 million, +8%;
• Gross bookings: USD7294 million, +10%. [more]

Expedia: "Worldwide air revenue increased 6% for the first quarter, primarily due to an 18% increase in revenue per ticket, partially offset by a decline in ticket volume of 10%. The increase in revenue per ticket was primarily due to increasing average air ticket prices, acceleration of merchant air revenue and performance-based incentives. The decrease in ticket volume was partially due to a 13% increase in average air ticket prices and lack of American Airlines content for the duration of first quarter 2011. Expedia and Hotwire® sites worldwide added back American Airlines content on April 4, 2011 pursuant to a memorandum of understanding reached with American Airlines," Company statement. Source: Expedia, 28-Apr-2011.