The Priceline Group (PCLN) Tops Q4 EPS Expectations

The Priceline Group (NASDAQ: PCLN) reported Q4 EPS of $12.63, $0.83 better than the analyst estimate of $11.80. Revenue for the quarter came in at $2 billion versus the consensus estimate of $1.96 billion.

Fourth quarter gross travel bookings for The Priceline Group, which refers to the total dollar value, generally inclusive of all taxes and fees, of all travel services purchased by its customers, net of cancellations, were $12.0 billion, an increase of 13 percent over a year ago (approximately 24 percent on a constant currency basis).

Adjusted EBITDA for the 4th quarter 2015 was $790 million, an increase of 11% over a year ago.

GUIDANCE:

The Priceline Group sees Q1 2016 EPS of $9.00-$9.60, versus the consensus of $9.61. The company is also looking for year-over-year increase in revenue of approximately 9 - 16 percent.

Additional Guidance:

Priceline sees:

• Year-over-year increase in room nights booked of approximately 20 - 27 percent.
• Year-over-year increase in total gross travel bookings of approximately 12 - 19 percent (an increase of approximately 18 - 25 percent on a constant currency basis).

"The Priceline Group finished 2015 with a strong 4th quarter, reporting accelerating growth in hotel room nights booked," said Darren Huston, President and CEO of The Priceline Group. "Globally, our accommodation business booked 99 million room nights in the fourth quarter, up 27% over the same period last year. International gross bookings growth accelerated to 29% on a constant currency basis and the Group's total gross profit grew by about 23% on a constant currency basis. Booking.com continues to expand and innovate and now has over 850,000 hotels and other accommodations in over 220 countries and territories across the globe, up 34% from last year."

Looking forward, Mr. Huston said, "The Group’s brands are starting 2016 with strong momentum. We will continue to invest in our brands to organically grow for the long term using our consistent ROI-driven investment philosophy of creating value."

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

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