Priceline revenue jumps 19 percent as hotel bookings rise

November 7, 2016 4:15 PM EST

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(Reuters) - Travel website operator Priceline Group Inc reported a 19 percent jump in quarterly revenue, driven by higher hotel bookings, sending its shares up 5.2 percent in extended trading.

However, the company's net income fell to $506.0 million, or $10.13 per share, in the third quarter ended Sept. 30, from $1.20 billion, or $23.41 per share, a year earlier.

The company said on Monday it incurred a non-cash charge of $941 million relating to an impairment of OpenTable's goodwill.

Excluding items, the company earned $31.18 per share.

Revenue rose to $3.69 billion from $3.10 billion. ((http://bit.ly/2fyDmuK))

(This version of the story corrects paragraph 1 to say the company's shares rose 5.2 percent, not 14 percent)

(Reporting by Arunima Banerjee in Bengaluru; Editing by Sriraj Kalluvila)



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