Expedia Beats Travelocity for 2nd Quarter Booking Results

1st Feb 2002

Expedia edged out Travelocity as the “biggest” name in online travel in its fiscal second quarter ended Dec. 31 with $704 million in gross bookings.
Travelocity notched $630.2 million in gross bookings for the period.

However, if you tally both companies` most recent four quarters, the Sabre-controlled Travelocity still was the leader in gross bookings: $3.1 billion to Expedia`s $2.9 billion.

It is still clear, however that Expedia, poised to be acquired by USA Networks Feb. 4, is challenging the once-dominant Travelocity for online supremacy.

For its second quarter, Expedia posted net income of $5.2 million and earned 8 cents per share. That compared with a net loss of $25 million and 53 cents per share in that quarter a year earlier.

Expedia`s revenue for the second quarter was $82 million, a record for the company, compared with $44.4 million in the year-ago quarter.


Expedia`s merchant revenue of $34 million for the quarter was pumped by the sale of vacation packages and hotel stays. The company, for instance, booked 1.6 million room nights in the quarter.

That $34 million revenue was an 185% increase over the year-earlier quarter. Agency revenue, which is primarily commission-based, rose 75% to $42 million.

“We accomplished these record results in spite of the travel slowdown caused by the economy and the events of Sept. 11,” said Expedia chief financial officer Gregory Stanger.

While Expedia recorded a profit for the October-to-December quarter, Travelocity was in the red, posting a net loss of $25 million or 50 cents per share.



Recommended for you

Follow Breaking Travel News

Travel Events Calendar

Media Partnerships

Global Restaurant Investment ForumThe Hospitality & Tourism SummitCATHIC
ITB AsiaChina Outbound Travel & Tourism MarketThe Travel Marketing Store
Serviced Apartment SummitWorld Travel MarketIMEX
AHICWTTCRoutes Online
UBM Aviation