Expedia 2008 Annual Report Download - page 113

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NOTE 18 — Quarterly Financial Information (Unaudited)
March 31 June 30 September 30 December 31
Three Months Ended
(In thousands, except per share data)
Year ended December 31, 2008
Revenue ............................ $687,817 $795,048 $833,337 $ 620,811
Gross profit .......................... 535,874 626,174 656,336 483,885
Operating income (loss)(1)............... 89,998 170,541 199,586 (2,889,078)
Net income (loss)(1) ................... 51,306 96,089 94,824 (2,759,982)
Basic earnings per share(2) .............. $ 0.18 $ 0.34 $ 0.33 $ (9.62)
Diluted earnings per share(2) ............. 0.17 0.33 0.33 (9.60)
Year ended December 31, 2007
Revenue ............................ $550,511 $689,923 $759,596 $ 665,302
Gross profit .......................... 429,213 546,277 608,543 518,898
Operating income ..................... 67,334 153,625 179,772 128,338
Net income .......................... 34,776 96,136 99,595 65,357
Basic earnings per share(2) .............. $ 0.11 $ 0.32 $ 0.34 $ 0.23
Diluted earnings per share(2) ............. 0.11 0.30 0.32 0.22
(1) Included as part of operating loss and net loss for the fourth quarter of 2008 is an approximately $3 billion
impairment charge related to goodwill, intangible and other long-lived assets. In addition, the fourth quar-
ter of 2008 was impacted by a $7 million adjustment related to intangible amortization which should have
been included in prior quarterly periods of 2008.
(2) Earnings per share is computed independently for each of the quarters presented. Therefore, the sum of
the quarterly earnings per share may not equal the total computed for the year.
F-41
Expedia, Inc.
Notes to Consolidated Financial Statements — (Continued)