The Priceline Group (PCLN) Tops Q3 EPS by 97c; Guides Q4 EPS Below the Street
The Priceline Group (NASDAQ: PCLN) reported Q3 EPS of $35.22, $0.97 better than the analyst estimate of $34.25. Revenue for the quarter came in at $4.4 billion versus the consensus estimate of $4.34 billion.
Sees Q4 EPS of $13.40-$14.00, versus the consensus of 15.57.
"The Priceline Group delivered solid growth and operating results during our seasonally busy third quarter," said Glenn Fogel, Chief Executive Officer of The Priceline Group. "Globally, our accommodation business booked 178 million room nights in the third quarter, up 19% over the same period last year. Booking.com showed continued momentum with approximately 1.5 million properties on its platform, up 41% over last year. This represents 26.9 million potentially bookable rooms, which we believe to be the largest, and most diverse, selection of instantly bookable accommodations in the world."
Looking forward, Mr. Fogel said, "As we look to the fourth quarter and beyond, we will continue to focus on making the right investments across our brands - in people, systems, and marketing - to continue to grow our business for the long term."
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