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Expedia Inc. (EXPE) filed Annual Report for the period ended 2011-12-31.
Expedia Inc. has a market cap of $4.54 billion; its shares were traded at around $34.16 with a P/E ratio of 9.6 and P/S ratio of 1.3. The dividend yield of Expedia Inc. stocks is 1.7%. Expedia Inc. had an annual average earning growth of 9% over the past 5 years.
This is the annual revenues and earnings per share of EXPE over the last 10 years. For detailed 10-year financial data and charts, go to 10-Year Financials of EXPE.
Highlight of Business Operations:
The increase in worldwide gross bookings in 2011 as compared to 2010 was primarily driven by 18% growth in hotel room nights and 5% in hotel ADRs. The increase in worldwide gross bookings in 2010 as compared to 2009 was primarily due to a 14% growth in transactions, a 10% increase in average airfares and a 1% increase in hotel ADRs. Revenue margin for 2011 was essentially flat when compared to 2010. The decrease in revenue margin in 2010 as compared to 2009 was primarily due to higher average air ticket prices.Worldwide hotel revenue increased 18% in 2011 compared to 2010 primarily due to an 18% increase in room nights stayed. Revenue per room night was flat year over year. Competitive pricing actions on hotels and packages as well as accruals for loyalty programs at Expedia and Hotels.com offset most of the 5% increase in ADRs. Worldwide hotel revenue increased 11% in 2010 compared to 2009 primarily due to a 14% increase in room nights stayed, partially offset by a 3% decline in revenue per room night.
Worldwide air revenue decreased 4% in 2011 compared to 2010 due to an 8% decrease in air tickets sold, partially offset by a 4% increase in revenue per air ticket. The decrease in air tickets sold was partially due to an 11% increase in average air ticket prices. Revenue per ticket increased in 2011 due to certain regional and interline consumer booking fees and performance-based incentives, partially offset by lower net supplier economics. Worldwide air revenue increased 12% in 2010 compared to 2009 due to an 11% increase in air tickets sold and a 1% increase in revenue per air ticket.
Worldwide revenue other than hotel and air discussed above, which includes car rental, advertising and media, destination services and fees related to our corporate travel business, increased by 8% in 2011 compared to 2010 and 7% in 2010 compared to 2009.
In 2010, our effective tax rate was lower than the 35% federal statutory rate primarily due to an increase in earnings in jurisdictions outside the United States, where our effective rate is lower, and a reversal of accruals for uncertain tax positions resulting from the conclusion of 2005 to 2007 IRS audits, which reversal was partially offset by state income taxes and accruals on continuing uncertain tax positions. The change in the effective rate for 2010 compared to the 2009 rate was primarily due to an increase in earnings in jurisdictions outside the United States and a reversal of accruals for uncertain tax positions resulting from the conclusion of 2005 to 2007 IRS audits, partially offset by a 2009 deduction relating to the closure of a foreign subsidiary that did not recur in 2010.
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