The Priceline Group (PCLN) Tops Q3 EPS Expectations
The Priceline Group (NASDAQ: PCLN) reported Q3 EPS of $25.35, $1.12 better than the analyst estimate of $24.23. Revenue for the quarter came in at $3.1 billion versus the consensus estimate of $3.05 billion.
“The Priceline Group delivered strong growth and operating results during its high travel season,” said Darren Huston, President and CEO of The Priceline Group. “Globally, our accommodation business booked a record 116 million room nights in the 3rd quarter, up 22% over the same period last year. Gross profit grew 29% on a constant currency basis. Booking.com showed continued positive momentum with over 820,000 properties on its platform, up 38% over last year. This represents over 21 million potentially bookable rooms, the largest, and most diverse, selection of directly bookable accommodations in the world.”
Looking forward, Mr. Huston said, “The Group’s mission is to help people experience the world. We continue to be the most valuable platform in the world exclusively dedicated to this pursuit. We will continue to focus on making the right investments across our six brands - in people, systems, and demand - to continue to profitably grow our business.”
• | Year-over-year increase in total gross travel bookings of approximately 1% - 8% (an increase of approximately 13% - 20% on a constant currency basis). |
• | Year-over-year increase in international gross travel bookings of approximately 3% - 10% (an increase of approximately 17% - 24% on a constant currency basis). |
• | U.S. gross travel bookings are expected to decrease by 5% - 10% as compared to 4th quarter 2014. |
• | Year-over-year increase in revenue of approximately 1% - 8%. |
• | Year-over-year increase in gross profit of approximately 3% - 10% (an increase of approximately 14% - 21% on a constant currency basis). |
• | Adjusted EBITDA of approximately $710 million to $760 million. |
• | Non-GAAP net income per diluted share between $11.10 and $11.90. |
For earnings history and earnings-related data on The Priceline Group (PCLN) click here.