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 Orbitz Posts Q1 Profit On Tax Benefit
May 9, 2013

Online travel agency Orbitz Worldwide reported a quarterly profit on Thursday, aided by a tax benefit.

Net income was USD$146.2 million in the first quarter, compared with a loss of USD$6.5 million a year earlier. The company cited a tax benefit of USD$158.5 million.

Revenue rose 7 percent to USD$202.9 million.

Operating expenses rose 11 percent to USD$205.7 million.

Gross bookings fell 1 percent to USD$3.1 billion, mainly because of lower air-ticket volumes.

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