priceline.com (PCLN) Posts Strong 'Beat and Raise' Q2
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Price: $1,905.64 --0%
Financial Fact:
Merchant revenues: 620.29M
Today's EPS Names:
ESCA, LICT, NKSH, More
Financial Fact:
Merchant revenues: 620.29M
Today's EPS Names:
ESCA, LICT, NKSH, More
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priceline.com (Nasdaq: PCLN) is one exception to the market rout. Shares are surging after-hours Thursday following much-better-than-expected profits from the online travel leader.
Non-GAAP net income rose 76 percent to $282.6 million. EPS came in at $5.49, $0.62 better than the analyst estimate of $4.87.
Revenue for the quarter rose 44 percent to $1.1 billion, versus the consensus estimate of $1.07 billion.
"The Group benefited from strong 2nd quarter performances by our global hotel and rental car businesses," said Jeff Boyd, President and CEO of the Priceline Group. "Global hotel room nights increased 56% compared to last year, while global rental car days were up 55% for the 2nd quarter. In general, our hotel booking business is benefiting from improving ADRs, continuing strength in our core markets, and high rates of growth in new markets, particularly Asia-Pacific, where both Booking.com and Agoda are performing well."
Airline ticket sales rose 7 percent, the company's fastest growth over the last six quarters.
The outlook was also strong. Priceline sees third quarter non-GAAP EPS of $9.10-$9.30, versus the consensus of $7.94.
Shares of priceline.com are up over 10 percent to $530.50 in after-hours action.
Non-GAAP net income rose 76 percent to $282.6 million. EPS came in at $5.49, $0.62 better than the analyst estimate of $4.87.
Revenue for the quarter rose 44 percent to $1.1 billion, versus the consensus estimate of $1.07 billion.
"The Group benefited from strong 2nd quarter performances by our global hotel and rental car businesses," said Jeff Boyd, President and CEO of the Priceline Group. "Global hotel room nights increased 56% compared to last year, while global rental car days were up 55% for the 2nd quarter. In general, our hotel booking business is benefiting from improving ADRs, continuing strength in our core markets, and high rates of growth in new markets, particularly Asia-Pacific, where both Booking.com and Agoda are performing well."
Airline ticket sales rose 7 percent, the company's fastest growth over the last six quarters.
The outlook was also strong. Priceline sees third quarter non-GAAP EPS of $9.10-$9.30, versus the consensus of $7.94.
Shares of priceline.com are up over 10 percent to $530.50 in after-hours action.
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