Priceline (PCLN) Q4 EPS Easily Beat; Revs Jump 35%, Miss Estimate

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PCLN Hot Sheet

EPS Growth %: +60.9%

Financial Fact:
Net income applicable to common stockholders: 181.97M

Today's EPS Names:
TLB, TNP, MENT, More

Priceline.com Inc. (NASDAQ: PCLN) posted strong fourth-quarter earnings on Wednesday, as its revenue missed the mark and the company guided first-quarter earnings.

The online travel agency reported fourth-quarter earnings of $3.40 per share, 30 cents better than the analyst estimate of $3.10 per share.

Revenue for the company rose 35 percent from last year to $731 million, missing the market consensus of $736.14 million.

Priceline added that the fourth-quarter gross travel bookings increased 44.2 percent from the year-ago-quarter.

"The Group's worldwide hotel business performed well for the 4th quarter and full year 2010," said Jeffery H. Boyd, Priceline President and Chief Executive Officer. "High gross travel bookings growth rates were the result of continued penetration of new markets, like Asia-Pacific and South America, where economic growth and rapid online adoption are tailwinds for the business, and solid growth in core markets in Western Europe and North America."

The company said that international revenue increased 68.2 percent to $374.9 million in the fourth quarter.

Looking forward, Priceline sees first-quarter adjusted earnings in the range of $2.34-$2.44 per share, which does not compare to the consensus of $2.31 per share.

Shares of Priceline are down $3.05 to $422.94 in aftermarket movement on Wednesday.

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