Expedia third quarter profit beats estimates, says expects more money from Orbitz deal

(Reuters) - Expedia Inc on Thursday posted a rise in third-quarter profit that beat analysts' estimates, and said it now expects its merger with Orbitz Worldwide Inc will generate more savings and revenue than previously anticipated.

Expedia, the world's largest online travel services company by bookings, earned $283 million in the quarter, up 10 percent from a year earlier. On an adjusted basis, it earned $276 million, or $2.07 per share, compared to the average analyst estimate of $265 million, or $2.02 per share, according to Thomson Reuters I/B/E/S.

Expedia Chief Financial Officer Mark Okerstrom added in an interview that the company expects a "meaningful" increase in savings and revenue above the $75 million per year it earlier expected would come from the Orbitz merger. He declined to quantify the improvement.

 

(Reporting by Jeffrey Dastin in New York, editing by G Crosse)