The Priceline Group (PCLN) Tops Q1 EPS by 38c, Q2 EPS Guidance Misses

The Priceline Group (NASDAQ: PCLN) reported Q1 EPS of $8.12, $0.38 better than the analyst estimate of $7.74. Revenue for the quarter came in at $1.84 billion versus the consensus estimate of $1.8 billion.

“The Priceline Group is off to a strong start in 2015 with accelerating growth in room nights and rental car days booked,” said Darren Huston, President and CEO of The Priceline Group. “Globally, our brands booked over 100 million room nights for the first time during a quarter. International gross bookings growth accelerated to 29% on a constant currency basis in the 1st quarter. Booking.com continues to extend its lead as the world’s largest brand for booking accommodations, with over 635,000 hotels and other accommodations on the platform, up 40% over last year. Our rental car business grew rental car days by 18% over the 1st quarter of last year, an acceleration from 16% in the 4th quarter.”

Looking forward, Mr. Huston said: “Our brands executed well in the quarter, delivering strong performance on both the top and bottom line, while making smart and sustainable investments to support future growth. We will continue to focus relentlessly on execution at all of our brands and earn our customers' loyalty by delivering winning experiences across desktop, tablet and mobile platforms.”

Guidance:

The Priceline Group sees Q2 2015 EPS of $10.95-$11.75, versus the consensus of $13.10.

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

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