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Orbitz Reports Better-than-Expected Revenue on Increased Bookings

Brittany Umar
8/07/14 2:05 PM EDT
Online travel service provider Orbitz reported better-than-expected second-quarter revenue on increased bookings. The company said earned $6.9 million, or 5 cents a share, on revenue that rose 10% to about $248 million, beating analyst estimates of about $245 million. Gross bookings increased nearly 9% to $3.4 billion, driven by higher volume and higher booking values. For the current quarter, Orbitz expects revenue to be between $249 to $254 million, that's better than the $242.3 million analysts expect. UBS Analyst Eric Sheridan said total gross bookings, revenues and hotel room night growth beat his estimates, while EBITDA was in line. TheStreet's Brittany Umar has details.
Stock quotes in this video: OWW, UBS

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