Travelzoo Inc. (NASDAQ: TZOO) will hold a conference call next Thursday October 25th to discuss their finances for Q3 of 2012. A press release reporting results will be issued just prior to market opening of that day.
The financials are in from Expedia. According to the reports, wile quarter 4 revenue was up by 6.7% at $787.1 million compared with the previous year, expenses took their toll virtually eliminating and growth for 2011.
Last week, Danny King over at Travel Weekly hit the nail on the head with his assessment of Expedia’s so called “verified” review system. Expedia Verified Reviews attempts to qualify hotel reviews using “use” of Expedia as a criteria. Having pushed TripAdvisor from the OTA nest on its own, Expedia seems intent on milking the last drop from the user review teat.
In news from Chicago, the state court of appeals there upheld an earlier decision forcing American Airlines (AMR) to allow Orbitz to sell tickets for its flights. Orbritz, the US’s second largest online ticket seller, has for months been embroiled in dispute with AMR.
Orbitz announcements of deals and personnel changes, like most such corporate news fodder, would not ordinarly be a sign of anything big in the offing. However, with a closing price of $2.40 on Friday, and the inherent value underneath, it doesn’t take a rocket scientist to figure this stock is on the way up.
TUI Travel accepts CFO resignation amid almost scandalous restating of financials. CEO Peter Long and CFO Paul Bowtell talk, after which Bowtell announces his resignation. A restated financial report reveals a fairly vast accounting error – stocks decline on the news.