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Priceline tops Street 3Q forecasts

NORWALK, Conn. (AP) _ The Priceline Group Inc. (PCLN) on Monday reported third-quarter profit of $1.72 billion.

The Norwalk, Connecticut-based company said it had profit of $34.43 per share. Earnings, adjusted for one-time gains and costs, came to $35.22 per share.

The results beat Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of $34.31 per share.

The online booking service posted revenue of $4.43 billion in the period, also beating Street forecasts. Nine analysts surveyed by Zacks expected $4.34 billion.

For the current quarter ending in December, Priceline expects its per-share earnings to range from $13.40 to $14. Analysts surveyed by Zacks had forecast adjusted earnings per share of $15.62.

Priceline shares have risen 30 percent since the beginning of the year, while the Standard & Poor's 500 index has risen 16 percent. In the final minutes of trading on Monday, shares hit $1,903, a climb of 34 percent in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PCLN at https://www.zacks.com/ap/PCLN