CHICAGO, Nov 7 (Reuters) - Travel Web site Expedia Inc said on Wednesday quarterly profit rose 69 percent on a surge in bookings primarily in rapidly growing European markets.
Expedia said net profit increased to $99.6 million, or 32 cents per share, from $59 million, or 17 cents per share, a year earlier.
Excluding some one-time items, the company said it earned 39 cents per share, topping a consensus forecast of 37 cents per share, according to Reuters Estimates.
Expedia said total bookings increased 21 percent to $5.15 billion.
Bookings for the company's European operations increased 47 percent.
This was consistent with a trend for online travel agencies, which are seeing dramatic growth in Europe, while growth of U.S. bookings has leveled off.
Expedia said revenue rose 24 percent to $759.6 million in the quarter.
The company attributed the growth to an increase in worldwide hotel revenue as well as advertising and media revenue.
These are good results, and our ability to keep them coming depends on the right balance of investment and profitable growth, Expedia Chief Executive Dara Khosrowshahi said in a statement.
Expedia's shares rose 80 cents, or 2.65 percent, to $30.96 on Nasdaq in morning trading.