🎁 💸 Warren Buffett's Top Picks Are Up +49.1%. Copy Them to Your Watchlist – For FreeCopy Portfolio

Priceline soars in extended trade; eps and revenue beat expectations

Published 02/27/2017, 05:19 PM
Updated 02/27/2017, 05:25 PM
Priceline shares gained more than 4% in after-hours trading
BKNG
-

Investing.com - Priceline.com Incorporated (NASDAQ:PCLN) shares gained more than 4% in after-hours trading, after the company reported earnings and revenue that beat analysts’ expectations after the U.S. closing bell on Monday.

Priceline reported earnings-per-share (EPS) of $14.21 on revenue of $2.35 billion against Wall Street estimates of $13.01 EPS on revenue of $2.32 billion.

The travel company increased quarterly revenue by 17.4%, helped by “accelerating growth in hotel room nights booked” said Glenn Fogel, Chief Executive Officer of The Priceline Group.

Priceline recorded 31% year-on-year growth in room nights booked amid strong competition from rivals Expedia, Alphabet and Trivago while the company also reported growth in room nights booked for the full year 2016 compared to a year earlier.

The better-than-expected earnings comes after the company said its restaurant booking site 'OpenTable” would weigh on growth.

Looking forward to 2017, Mr. Fogel said, "We will continue to focus on growing our supply base to drive customer choice, innovating around the customer experience and investing efficiently in marketing to deliver profitable topline growth.

Priceline shares closed at $1,632 but surged more than 4% in after-hours trade to $1,699.95.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.