Web travel site Priceline (PCLN) beat Wall Street’s Q4 expectations, led by a big increase in travel bookings and a fast growing international business.
Priceline reported $335 million in Q4 sales, up 29% y/y, and beating Wall Street’s $329 million consensus. Pro forma EPS came in at 96 cents, up from 58 cents a year ago, and handily beating the Street’s 84 cents per share estimate. Pro forma net income more than doubled to $46.2 million. Gross travel bookings increased 62% y/y while international gross travel bookings increased 113% y/y. Shares are up more than 9% in after-hours trading, hovering around $112.
For Q1, Priceline said it expects gross travel bookings to increase 60-65%, revenue to increase 30%, ahead of the Street’s projected 20% growth, and EPS to come in between 50 cents and 60 cents, in line with the Street’s 53 cents consensus. Release.
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