priceline.com Incorporated Earnings: Here’s Why Investors are Buying Shares Now
priceline.com Incorporated (NASDAQ:PCLN) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 4.46%.
priceline.com Incorporated Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 26.07% to $6.77 in the quarter versus EPS of $5.37 in the year-earlier quarter.
Revenue: Rose 20.17% to $1.19 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: priceline.com Incorporated reported adjusted EPS income of $6.77 per share. By that measure, the company beat the mean analyst estimate of $6.54. It beat the average revenue estimate of $1.19 billion.
Quoting Management: “The Priceline Group finished 2012 with a strong 4th quarter showing improving unit growth in hotel room and rental car day reservations,” said Jeffery H. Boyd, Chairman and CEO of The Priceline Group. “International gross bookings growth of 43% on a local currency basis in the 4th quarter evidenced the resilience of the business in 2012 despite economic uncertainty in our core European market. Looking forward, Mr. Boyd said “The Group’s brands are off to a good start in 2013, with greater supply and geographic reach, a new offline marketing experiment for Booking.com in the United States and a new ad campaign for priceline.com featuring Kaley Cuoco together with William Shatner’s Negotiator and a mandate to further build and diversify the global reach of our business. While global economic conditions remain a concern, we are excited about our long-term outlook.”
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