The Priceline Group (PCLN) Tops Q4 EPS Views; Issues Light Q1 EPS Outlook

The Priceline Group (NASDAQ: PCLN) reported Q4 EPS of $10.85, $0.75 better than the analyst estimate of $10.10. Revenue for the quarter came in at $1.84 billion versus the consensus estimate of $1.8 billion.

“The Priceline Group finished 2014 with a strong 4th quarter, reporting solid hotel and rental car unit growth,” said Darren Huston, President and CEO of The Priceline Group. “International gross bookings growth of 27% on a local currency basis in the 4th quarter demonstrates the resilience of the business, despite an environment of economic uncertainty and foreign exchange volatility. The Group’s full year room night reservations of 346 million grew by 28%, leading to gross bookings for the Group of just over $50 billion.”

Looking forward, Mr. Huston said, “The Group’s brands are starting 2015 with strong momentum. We are investing in our brands to organically grow our core business for the long-term. We also continue to invest in OpenTable and our BookingSuite branded hotel marketing services. These investments have a more pronounced impact on profitability in our seasonally low first quarter, but are the right investments to plant seeds for future growth. Today we are also announcing that the Priceline Board has given us an additional authorization to repurchase up to $3 billion of our common stock. We believe that buying our stock is a wise investment of our capital and demonstrates our confidence in the long-term outlook for our business.”

The Priceline Group sees Q1 2015 EPS of $7.20-$7.75, versus the consensus of $8.46.

For earnings history and earnings-related data on The Priceline Group (PCLN) click here.

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