Two Superb Earnings: Expedia Inc & Cray Inc. (NASDAQ:EXPE, CRAY)

Two Superb Earnings: Expedia Inc & Cray Inc. (NASDAQ:EXPE, CRAY)

Expedia Inc (NASDAQ:EXPE) shares jumped sharply in the pre-open session after the company posted a much higher-than-anticipated first quarter adjusted profit and revenue.

The company reported net loss of $3.3 million, or 2 cents a share, reversing a year ago profit of $52 million, or 37 cents a share. On an adjusted basis, the company would have earned 26 cents a share, ahead of analysts’ estimates by 9 cents.

Quarterly revenue grew 12% to $816.5 million, ahead of $790.9 million expected by analysts.

“Overall it looks pretty strong,” Morningstar analyst Dan Su said, noting a rise in domestic and international bookings.

“You probably would expect some headwinds in the Western economies would be pressuring growth” but there was no sign of that in the Expedia report, she said.

Shares of EXPE soared 21.20% to $39.54 in the pre-market session.

Cray Inc. (NASDAQ:CRAY) shares popped up another 15.50% after the company reported a sharper-than-anticipated first quarter earnings and provided upbeat full year outlook.

The company posted earned 13 cents a share, topping analysts’ target by 3 cents. Revenue duirng the quarter grew to $112.3 million, up from $39.5 million a year ago and ahead of the Street at $98.5 million.

For the current, the company expects to generate revenue of $85 million, ahead of the Street at $53.5 million. For all of 2012, the company sees revenue of $430 million to $450 million, ahead of the previous consensus at $401.3 million.

“We had a strong first quarter led by a large acceptance at Oak Ridge National Laboratory,” CEO Peter Ungaro said in a statement.

Earlier this week, the stock soared about 21% in a single day after Intel Corporation (NASDAQ:INTC) agreed to buy technology portfolio from Cray Inc. for $140 million.