The Priceline Group (PCLN) Tops Q2 EPS by 94c
The Priceline Group (NASDAQ: PCLN) reported Q2 EPS of $15.14, $0.94 better than the analyst estimate of $14.20. Revenue for the quarter came in at $3.02 billion versus the consensus estimate of $2.99 billion.
"The Priceline Group achieved strong results for the second quarter," said Glenn Fogel, Chief Executive Officer of the Priceline Group. "Globally, our accommodation business booked 170 million room nights in the quarter, up 21% over the same period last year." Looking forward, Mr. Fogel said, "We are pleased with the performance of the business and will continue to build our franchise by adding properties to the platform and by investing in technology, customer experience and content expansion."
Sees Q3 EPS of $32.40-$34.10, versus the consensus of $34.20.
Guidance Ranges | ||||||||
(U.S. Dollars in millions, except per share amounts) | Low | High | ||||||
Metrics | ||||||||
Year over year growth - Room nights booked | 11 | % | 16 | % | ||||
Year over year growth - Total gross travel bookings | 11 | % | 16 | % | ||||
Year over year growth - Total gross travel bookings (constant currency) | 9 | % | 14 | % | ||||
GAAP | ||||||||
Year over year growth - Gross profit | 15.5 | % | 20.5 | % | ||||
Year over year growth - Gross profit (constant currency) | 12.5 | % | 17.5 | % | ||||
Net income | $ | 1,590 | $ | 1,670 | ||||
Net income per diluted share(1) | $ | 31.70 | $ | 33.40 | ||||
Non-GAAP | ||||||||
Non-GAAP Net income | $ | 1,625 | $ | 1,705 | ||||
Non-GAAP Net income per diluted share(1) | $ | 32.40 | $ | 34.10 | ||||
Adjusted EBITDA | $ | 2,030 | $ | 2,130 | ||||
(1) Assumes a fully diluted share count of approximately 50.1 million shares. | ||||||||
For earnings history and earnings-related data on The Priceline Group (PCLN) click here.