Priceline reported fourth-quarter revenue that beat Wall Street estimates, and the stock is climbing. Priceline is up 5.96% at $US1,729.25 a share on Tuesday morning.
Here are the numbers:
- Earnings rose to $US710.85 million in the fourth-quarter ended Dec. 31, from $US540.65 million last year
- EPS for fourth-quarter was $US14.21 versus $US10.72 last year; analysts expected $US13.01, according to Thomson Reuters’ consensus
- Revenue rose 17.5% to $US2.35 billion; analysts expected $US2.32 billion, according to Reuters
CEO Glenn Fogel said in a statement that revenue for the quarter was boosted by “accelerating growth in room nights booked for the full year 2016 over 2015, which reflects the benefits of our scaled accommodations platform and strong execution by our global teams.”