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February 6, 2013
Expedia 4Q profit plunges 90 percent
BELLEVUE (AP) — Soaring hotel bookings pushed revenue higher at Expedia Inc., but the online travel agency's fourth-quarter profit fell 90 percent because of money it set aside to appeal a tax dispute in Hawaii.
Nights booked for hotel stays jumped 33 percent as demand grew for a second straight quarter in Europe, Asia and the Americas. Room nights rose 19 percent in the U.S., the best gain in two years. The average room rate fell 3 percent.
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