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Expedia shares fall 3 percent after earnings miss

Visitors browse at the display of Expedia during the International Tourism Trade Fair in Berlin.
Fabrizio Bensch | Retuers
Visitors browse at the display of Expedia during the International Tourism Trade Fair in Berlin.

Online travel services company Expedia reported a 23.2 percent rise in fourth-quarter revenue, helped by higher gross bookings.

However, adjusted earnings per share of $1.17 missed expectations of $1.37, according to a consensus of analysts polled by Reuters.

Shares fell more than 3 percent in after-hours trade, after closing up 0.3 percent Thursday at $123.25 a share.

Expedia said gross bookings increased $1.2 billion or 8 percent year-over-year to $16.1 billion in the fourth quarter of 2016. The company said room nights stayed increased 16 percent from the same period last year, excluding Orbitz Worldwide. Orbitz posted a 1 percent decline in room nights.

Expedia shares 6-month performance

The company's revenue rose to $2.09 billion in the quarter ended Dec. 31 from about $1.70 billion a year earlier. Analysts had expected revenue of $2.07 billion.

Unadjusted net income attributable to Expedia was $79.5 million, or 51 cents per share, compared with a loss of $12.5 million, or 9 cents per share.

The year-ago quarter included charges related to Expedia's purchase of vacation rental site HomeAway, and some other items.