Expedia Inc (EXPE) saw its loss narrow to $86.12 million, or $0.57 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $108.59 million, or $0.72 a share. On the other hand, adjusted net income for the quarter stood at $7.25 million, or $0.05 a share compared with $13.51 million or $0.09 a share, a year ago. Revenue during the quarter grew 14.96 percent to $2,188.74 million from $1,903.96 million in the previous year period. Gross margin for the quarter expanded 188 basis points over the previous year period to 80.73 percent. Operating margin for the quarter stood at negative 3.33 percent as compared to a negative 5.11 percent for the previous year period.
Operating loss for the quarter was $72.83 million, compared with an operating loss of $97.30 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at $208.23 million compared with $176.55 million in the prior year period. At the same time, adjusted EBITDA margin improved 24 basis points in the quarter to 9.51 percent from 9.27 percent in the last year period.
Operating cash flow improves significantly
Expedia Inc has generated cash of $1,673.44 million from operating activities during the quarter, up 50.99 percent or $565.12 million, when compared with the last year period. The company has spent $949.58 million cash to meet investing activities during the quarter as against cash outgo of $159.24 million in the last year period.
The company has spent $48.12 million cash to carry out financing activities during the quarter as against cash outgo of $612.95 million in the last year period.
Cash and cash equivalents stood at $2,503.23 million as on Mar. 31, 2017, up 21.32 percent or $439.90 million from $2,063.33 million on Mar. 31, 2016.
Working capital remains negative
Working capital of Expedia Inc was negative $2,691.16 million on Mar. 31, 2017 compared with negative $3,161.83 million on Mar. 31, 2016. Current ratio was at 0.66 as on Mar. 31, 2017, up from 0.55 on Mar. 31, 2016.
Days sales outstanding went down to 58 days for the quarter compared with 62 days for the same period last year.
At the same time, days payable outstanding went down to 419 days for the quarter from 432 for the same period last year.
Debt comes down marginally
Expedia Inc has recorded a decline in total debt over the last one year. It stood at $3,170.93 million as on Mar. 31, 2017, down 1.20 percent or $38.56 million from $3,209.49 million on Mar. 31, 2016. Expedia has recorded a decline in long-term debt over the last one year. It stood at $3,170.93 million as on Mar. 31, 2017, down 1.20 percent or $38.56 million from $3,209.49 million on Mar. 31, 2016. Total debt was 17.95 percent of total assets as on Mar. 31, 2017, compared with 19.58 percent on Mar. 31, 2016. Debt to equity ratio was at 0.56 as on Mar. 31, 2017, down from 0.68 as on Mar. 31, 2016.
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