Expedia’s profit over fourth quarter plunges by 90 percent due to charges


AP

BELLEVUE, Washington — Soaring hotel bookings pushed revenue higher at Expedia Inc., but the online travel agency’s fourth-quarter profit fell 90 percent because of money it set aside to appeal a Hawaii tax row.

Expedia said that it earned US$6.7 million, or 5 cents per share, down from US$70.3 million, or 44 cents per share, in the fourth quarter of 2011.