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EXPE Delivers Solid Q4 Results

Shares of Expedia Inc (NASDAQ:EXPE) are advancing this morning on a solid fourth quarter earnings release. The online travel booking site reported adjusted earnings of $0.92 per share in the fourth quarter, $0.06 above estimates. Revenues grew 18% in the quarter to $1.15 billion. In addition, gross bookings on the site rose 21% in the quarter. Increases in hotel room nights, plane tickets, and ad revenues were the drivers of growth in the quarter.