EXPEDIA, INC. (NASDAQ:EXPE) Files An 8-K Results of Operations and Financial Condition
Item2.02.
|
Results of Operations and Financial Condition. |
On February9, 2017, Expedia, Inc. (the Company) issued an
earnings release announcing its financial results for the quarter
and year ended December31, 2016 (the Original Earnings
Release). Information regarding the percentage impacts of
acquisitions on non-GAAP expense category growth for the quarter
and year ended December31, 2016 was misstated in the Original
Earnings Release due to a calculation error. On February 21,
2017, the Company issued a corrected earnings release including
such information, as corrected (the Corrected Earnings
Release). The calculation error did not impact any of the
Companys other earnings release disclosures, including, but not
limited to, reported Gross Bookings, Revenue, Adjusted EBITDA or
Adjusted Net Income, nor was there any impact to the Companys
GAAP financial statements.
A copy of the Corrected Earnings Release, which indicates the
corrected percentages on pages 8 and 9, is furnished as
Exhibit99.1 to this Amendment No. 1 on Form8-K/A and for
convenience the corrected percentages are also excerpted below
(with original reported percentage struck and corrected
percentage in bold type).
Adjusted Cost of Revenue
|
Acquisitions contributed approximately percentage points of inorganic adjusted cost of revenue growth for the fourth quarter and full year 2016, respectively. |
Adjusted Selling and Marketing
|
Acquisitions contributed approximately percentage points of inorganic adjusted selling and marketing growth for the fourth quarter and full year 2016, respectively. |
Adjusted Technology and Content
|
Acquisitions contributed approximately percentage points of inorganic adjusted technology and content growth for the fourth quarter and full year 2016, respectively. |
Adjusted General and Administrative
|
Acquisitions, including acquisition related expenses, contributed approximately a negative adjusted general and administrative expense growth for thefourthquarter and full year2016, respectively. |
The Corrected Earnings Release makes reference to non-GAAP
financial measures and includes a reconciliation of these
non-GAAP financial measures to the nearest comparable GAAP
financial measures. to General Instruction B.2. to Form 8-K, the
information set forth in this Item2.02 shall not be deemed filed
for purposes of Section18 of the Securities Exchange Act of 1934,
as amended (the Exchange Act), or otherwise subject to the
liabilities of that section, or incorporated by reference in any
filing under the Securities Act of 1933, as amended, or the
Exchange Act, except as shall be expressly set forth by specific
reference in such a filing.
| Item9.01. | Financial Statements and Exhibits. |
| (d) | Exhibits |
|
Exhibit Number |
Description |
|
| 99.1 |
Corrected Earnings Release of Expedia, Inc., dated February9, 2017. |
About EXPEDIA, INC. (NASDAQ:EXPE)
Expedia, Inc. is an online travel company. The Company makes travel products and services available, on a standalone and package basis, provided by various lodging properties, airlines, car rental companies, destination service providers, cruise lines and other travel product and service companies. Its Core OTA segment provides a range of travel and advertising services, through a range of brands, including Expedia.com and Hotels.com in the United States and localized Expedia and Hotels.com Websites throughout the world, Orbitz.com, Expedia Affiliate Network, Hotwire.com, Travelocity, Venere, Wotif Group, CarRentals.com, and Classic Vacations. Its trivago segment sends referrals to online travel companies and travel service providers from its hotel metasearch Websites. Its Egencia segment, which also includes Orbitz for Business, provides managed travel services to corporate customers. Its HomeAway segment operates an online marketplace for the vacation rental industry. EXPEDIA, INC. (NASDAQ:EXPE) Recent Trading Information
EXPEDIA, INC. (NASDAQ:EXPE) closed its last trading session down -0.01 at 119.40 with 1,685,049 shares trading hands.
