Priceline.com, Inc. (PCLN) Tops Q1 EPS by 49c, Q2 EPS Outlook Light of Views
Priceline.com, Inc. (NASDAQ: PCLN) reported Q1 EPS of $5.76, $0.49 better than the analyst estimate of $5.27. Revenue for the quarter came in at $1.3 billion versus the consensus estimate of $1.28 billion.
Priceline.com sees Q2 EPS of $8.87-$9.45, versus the consensus of $9.58. Year-over-year increase in revenue of approximately 15% - 22%.
"Unit growth in the Priceline Group's global hotel business held steady in the 1st quarter at 38% versus the prior year," said Jeffery H. Boyd, Chairman and CEO of The Priceline Group. "International gross bookings growth of 43% in the 1st quarter reflects continued strong performance of our international brands around the world. Domestic gross bookings growth accelerated in the quarter with improving results in our hotel and rental car businesses, aided by the roll out last year of our Express DealsSM semi-opaque service."
Looking forward, Mr. Boyd said, "We continue to see economic uncertainty in certain regions, and competition in the online travel sector remains intense. We are encouraged by the solid growth our businesses are delivering globally and will continue our investments in people, marketing, geographic expansion, content and innovation to lay the foundation for future growth."
For earnings history and earnings-related data on Priceline.com, Inc. (PCLN) click here.