The Priceline Group (PCLN) Tops Q3 EPS Views by $1.05; Guides Q4 EPS Below the Street

The Priceline Group (NASDAQ: PCLN) reported Q3 EPS of $22.16, $1.05 better than the analyst estimate of $21.11. Revenue for the quarter came in at $2.84 billion versus the consensus estimate of $2.83 billion.

The Priceline Group sees Q4 2014 EPS of $9.40-$10.10, versus the consensus of $10.91. The Priceline Group sees a year-over-year increase in revenue of approximately 11% - 18%, which is also below the consensus.

“The Priceline Group finished the summer travel season with market leading growth and strong operating performance,” said Darren Huston, President and CEO of The Priceline Group. “Globally, our accommodation business booked 95 million room nights in the third quarter, up 27% over the same period last year. Booking.com continues to extend its lead as the world’s largest brand for booking accommodations, with over 540,000 hotels and other accommodations on the platform, up 52% over last year. Our rental car business grew rental car days by 18% over last year, an acceleration from 14% in the second quarter, led by improving results at both rentalcars.com and priceline.com.” Looking forward, Mr. Huston said: “Our brands are performing well in a very competitive marketplace and against a mixed macro-economic backdrop, particularly in Europe. We intend to continue to make the smart investments for future growth, including broadening our offerings, building our brands and providing a superior experience to our customers, pre- and post-reservation, across all devices.”

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

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