By John Oates, 23 October 2001 08:35
NEWS Online travel service Expedia says sales have made a recovery after an initial dip following the events of 11 September. Expedia made a profit of $15m for the first quarter ended 30 September. This beat expectations by nearly 50 per cent. Turnover for the quarter was $79.5m, up from $42.1m for the same period last year. Commission from airlines made up $39.3m of this. Merchant revenue, commission on custom-made travel packages, accounted for $34.1m up from $12.3 last year. Revenue from banner ads fell about 25 per cent to $6.1m. Gross bookings, worth some $723m, were up sharply from last year but fell 10 per cent compared to the previous quarter in the wake of the terror attacks. The company said it has seen much the same mix of business as before 11 September but people are keener to have much more information about their destination.
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