What: Shares of Expedia (NASDAQ:EXPE) were up 10% as of 1:30 p.m. Friday after the online travel specialist announced better-than-expected second-quarter results.

So what: Quarterly revenue climbed 11.2% year over year to $1.66 billion, which translated to adjusted net income of $118.6 million, or $0.89 per share. Analysts, on average, were expecting roughly the same revenue to result in adjusted earnings of just $0.84 per share.

Expedia enjoyed strength across its businesses, with room night growth climbing 35% year over year, including domestic and international growth of 24% and 50%, respectively. In addition, gross bookings (excluding eLong, in which Expedia sold its 62.4% equity stake for roughly $671 million in May to several purchasers, including Ctrip) rose 20%, and would have climbed 28% had it not been for the negative impact of foreign exchange. Expedia's Advertising & Media business saw revenue climb 27% year over year to $515 million, and the strong performance its Core OTA (online travel agency) segment drove adjusted earnings before interest, taxes, depreciation and amortization 12% higher over the year-ago period, to $281.3 million.

Now what: Keeping in mind Expedia's already healthy growth overseas, the company also noted it reached an agreement with Ctrip to cooperate in "certain travel products in specified geographic markets." Investors should also remember Expedia is set to acquire Orbitz Worldwide per a $1.34 billion deal announced in February. That purchase still requires approval from the U.S. Justice Department. And Expedia CEO Dara Khosrowshahi noted during the subsequent conference call that his company ultimately wants international revenue to exceed that of its current core U.S. segment. As it stands, international revenue comprised around $745 million in Q2, or roughly 45% of Expedia's total. In the end, given that growth potential and Expedia's solid earnings beat, it's no surprise the market is bidding up shares today.