Expedia, Inc. (Nasdaq: EXPE) was up 2 1/8 to 21 5/8 in early trading Tuesday after reporting a smaller-than-expected loss for the third quarter ended March 31st.
The Bellevue, Washington-based online travel service said it had a loss before charges of $17.3 million, or 40 cents a share. Analysts were expecting a loss of 57 cents.
Pro forma revenue more than tripled, due to the acquisitions of Travelscape.com and VacationSpot.com, the company said. The acquisitions helped Expedia reduce its reliance on airline ticket commissions.
Revenue rose 212 percent to $58.8 million, as gross travel bookings advanced 178 percent to $401 million, said the company, which was spun off from Microsoft Corp. (Nasdaq: MSFT) in November.
Microsoft continues to hold a stake of nearly 85 percent in Expedia.