UPDATE: Priceline.com, Inc. (PCLN) Tops Q4 EPS by 23c; Guides In-Line

February 26, 2013 4:02 PM EST Send to a Friend
(Updated - February 26, 2013 4:31 PM EST)

Priceline.com, Inc. (NASDAQ: PCLN) reported Q4 EPS of $6.77, $0.23 better than the analyst estimate of $6.54. Revenue for the quarter came in at $1.19 billion versus the consensus estimate of $1.19 billion, an increase of 32.9% over a year ago. Adjusted EBITDA for the 4th quarter 2012 was $426 million, an increase of 23.7% over a year ago.

Non-GAAP 2012 net income was $1.61 billion or $31.28 per diluted share, compared to $23.45 per diluted share a year ago.

"The Priceline Group finished 2012 with a strong 4th quarter showing improving unit growth in hotel room and rental car day reservations," said Jeffery H. Boyd, Chairman and CEO of The Priceline Group. "International gross bookings growth of 43% on a local currency basis in the 4th quarter evidenced the resilience of the business in 2012 despite economic uncertainty in our core European market. Looking forward, Mr. Boyd said "The Group's brands are off to a good start in 2013, with greater supply and geographic reach, a new offline marketing experiment for Booking.com in the United States and a new ad campaign for priceline.com featuring Kaley Cuoco together with William Shatner's Negotiator and a mandate to further build and diversify the global reach of our business. While global economic conditions remain a concern, we are excited about our long-term outlook."

Priceline.com, Inc. sees Q1 2013 EPS of $4.90-5.30, versus the consensus of $5.14. The company is targeting year-over-year increase in total gross travel bookings of approximately 30% - 37% (an increase of approximately 29% - 36% on a local currency basis). Adjusted EBITDA of approximately $316 million to $346 million.

For earnings history and earnings-related data on Priceline.com, Inc. (PCLN) click here.


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