Priceline Profit, Outlook Surpass Street Estimates

Pricelinesaid its quarterly profit increased on a surge in bookings and growth in the company's global hotel business profit, and gave a forecast Thursday for the current quarter that also topped targets.


The online travel company reported first-quarter earnings of $2.66 a share, compared with $1.70 last year.

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Revenue came in at $809.3 million, versus $584 million a year ago.

Analysts polled by Thomson Reuters expected earnings of $2.46 a share on revenue of $779 million.

Priceline, which is best known for its name-your-own price auction, said the total value of its bookings rose 57 percent to $4.7 billion.

For the current quarter, Priceline expects to report a profit fo $4.70 to $4.90 a share, versus Street expectations of $4.45 a share.

Shares were flat in extended trade. Get after-hour quotes for Priceline here.

The stock closed down $3.59, or 0.67 percent, to end at $533.97.

Priceline announced Thursday Christopher Soder will be CEO of its North America division.