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Priceline jumps after strong results

Published 11/07/2016, 04:21 PM
Priceline jumps after strong results
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  • Priceline (NASDAQ:PCLN) reports profit increased 22% in Q3 to $3.6B. The international business contributed profit of $3.3B, up 25% Y/Y (+26% in constant currency).
  • Total gross bookings were up 24.9% to $18.460B. Merchant bookings shot up 40% during the quarter.
  • "The acceleration in room night growth demonstrates the favorable market in which we operate as well as the value of our diverse global platform," says CEO Jeffrey Boyd.
  • Priceline says it sees total gross travel bookings growth of 17% to 22% in Q4. Room bookings growth of 20% to 25% is anticipated. The company expects Q4 EPS of $12.20 to $12.80.
  • Priceline earnings release (.pdf)
  • PCLN +4.57% AH to $1548.00.

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