Higher bookings on Expedia.com boosted profits in the fourth quarter of 2013 for the online travel company and beat out analyst’s expectations, according to this article from Bloomberg.
The OTA recorded its biggest gain since October, closing out the year at $74.45, a 14 percent increase.
Gross bookings increased 21 percent, primarily driven by room night growth at eLong, Brand Expedia, and Hotels.com. An increase in air tickets also boosted the results. Hotel room nights stayed increased by 25 percent year-over-year, although rates remained relatively flat.
For more information on Expedia’s exceptional fourth quarter, visit Bloomberg.com.