BELLEVUE, Wash. (AP) _ Expedia Inc. (EXPE) on Wednesday reported third-quarter earnings of $409 million.
The Bellevue, Washington-based company said it had net income of $2.71 per share. Earnings, adjusted for non-recurring costs and stock option expense, were $3.38 per share.
The results missed Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $3.82 per share.
The online travel company posted revenue of $3.56 billion in the period, which also fell short of Street forecasts. Nine analysts surveyed by Zacks expected $3.58 billion.
Expedia shares have risen 20% since the beginning of the year, while the Standard & Poor's 500 index has increased 23%. In the final minutes of trading on Wednesday, shares hit $135.36, an increase of slightly more than 8% in the last 12 months.