Expedia (EXPE) Q1 2012 Earnings Call April 26, 2012 5:00 pm ET Executives Alan Pickerill - Dara Khosrowshahi - Chief Executive Officer, President, Director, Member of Preferred Stock Subcommittee and Member of Executive Committee Mark D. Okerstrom - Chief Financial Officer and Senior Vice President of Corporate Development Analysts Tom White - Macquarie Research Rohit Kulkarni Bo Nam - JP Morgan Chase & Co, Research Division Herman Leung - Susquehanna Financial Group, LLLP, Research Division Ross Sandler - RBC Capital Markets, LLC, Research Division Michael Millman - Millman Research Associates Paul Bieber Michael J. Olson - Piper Jaffray Companies, Research Division Kevin Kopelman - Cowen and Company, LLC, Research Division Stephen Ju - Crédit Suisse AG, Research Division Nishant Verma - Morgan Stanley, Research Division Bill Lennan Tracy B. Young - Evercore Partners Inc., Research Division Michael Costantini - Nomura Securities Co. Ltd., Research Division PresentationOperator
Good day, ladies and gentlemen. Thank you for standing by. Welcome to the Expedia, Inc.'s First Quarter Earnings Conference Call. [Operator Instructions] This conference is being recorded today, April 26, 2012. I would now like to turn the conference over to Alan Pickerill, Vice President of Investor Relation. Please go ahead, sir. Alan Pickerill Thanks, Erin. Good afternoon, and welcome to Expedia, Inc.'s financial results conference call for the first quarter ended March 31, 2012. I'm pleased to be joined on the call today by Dara Khosrowshahi, Expedia's CEO and President; and Mark Okerstrom, our CFO. The following discussion, including responses to your questions, reflects management's views as of today, April 26, 2012 only. We do not undertake any obligation to update or revise this information.