UPDATE 1-Expedia profit shrinks but beats estimates


* Net profit 14 cents/shr * Ex items profit 38 cents/share * Gross travel bookings down 5 pct CHICAGO, July 30 (Reuters) - Online travel agency Expedia Inc said on Thursday its net income fell on a decline in the value of its bookings amid the economic recession but still exceeded analysts' estimates. The largest U.S. online travel agency said its second-quarter profit amounted to $40.9 million, or 14 cents per share, compared with $96.1 million, or 33 cents per share, a year ...

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