Expedia (NASDAQ:EXPE) shares jumped almost 13% to $121.44 in today´s trading day after the company´s Q2 results. The company reported stronger-than-expected revenue and earnings. Further, it received a price target increase. Revenue was up more than 15%, beating the consensus, and reported second-quarter earnings of $0.89, beating analysts' estimates of $0.84 per share. Expedia also announced it raised its September dividend to $0.24 per share, a 33% increase over its previous dividend.
At the end of May, the stock also jumped in response to news that the firm was selling its majority stake in Chinese travel company eLong (NASDAQ:LONG) to Ctrip.com (NASDAQ:CTRP). I think this was a strategic move, apart from reducing exposure to China, because the firm can focus on valuable ideas in the long haul instead of losing time and sources in that business. Continue Reading »