Full report here.
4:10PM Priceline.com beats by $0.44, beats on revs; guides Q3 EPS above consensus, revs above consensus (PCLN) 230.67 +3.29 :
Reports Q2 (Jun) earnings of $3.09 per share, excluding non-recurring items, $0.44 better than the Thomson Reuters consensus of $2.65; revenues rose 27.1% year/year to $767.4 mln vs the $733 mln consensus. Gross booking were $3.4 bln, up 43% y/y.
Co issues upside guidance for Q3, sees EPS of $4.78-4.98 vs. $4.18 Thomson Reuters consensus; sees Q3 revs growth of 29-34% y/y (~$941-978 mln) vs. $863.28 mln Thomson Reuters consensus. For Q3 sees y/y increase in total gross travel bookings of ~33% - 38% (approx $3.6-3.75 bln); y/y increase in international gross travel bookings of ~46% - 51% compared to 59.5% in Q2; y/y increase in domestic gross travel bookings of approximately 13% compared to 19% in Q2.
- Online travel agency Priceline on Tuesday posted quarterly profit above analyst forecasts as bookings jumped 43%, led by international bookings and hotel reservations as the industry recovers from a downturn. "The stronger international growth, combined with better expense management, led to the strong upside," said Aaron Kessler, an analyst at Thinkequity. "The guidance looks pretty strong as well," he said.
- International bookings rose 63.6% to $321.8 million. The company said global hotel reservations increased by 48%.
[Feb 18, 2010: Priceline.com - Another Stellar Earnings Report]
[Nov 10, 2009: Priceline.com Hits an Earnings Home Run]
[Aug 10, 2009: Priceline.com - Recession Recsmession! Continued Impressive Results]
[May 14, 2009: Priceline.com in Investors Business Daily]
[May 11, 2009: Priceline.com Continues to Execute Well]
[Feb 19, 2009: Priceline.com Impresses on Earnings]
[Aug 6, 2008: Priceline.com - Down 17% on Good Earnings?]
[May 8, 2008: 2 Earnings Reports of Note: AIG (AIG) and Priceline (PCLN)]