Expedia Inc. (NASDAQ:EXPE) saw its shares plunge by nearly 14% in after-hours trading after the internet travel giant saw its third quarter earnings and revenues miss Wall Street expectations.
The Nasdaq-listed firm reported third quarter adjusted earnings per share of US$2.51, below forecasts for US$2.61, on revenue of US$2.97bn, up from US$2.58bn a year earlier but below estimates of US$2.98bn.
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The company’s overall third quarter net income was US$352mln, or US$2.23 a share, compared with US$279mln, or US$1.81 a share.
For the fourth quarter, Expedia estimates earnings of US$1.42 a share on revenue of US$2.4bn.
In after-hours trading, Expedia shares were down 13.95% at US$126.80.