Priceline Group Beats but Guides Lower
Priceline Group (PCLN) reported 2nd Quarter June 2017 earnings of $15.14 per share on revenue of $3.0 billion. The consensus earnings estimate was $14.25 per share on revenue of $3.0 billion. The Earnings Whisper number was $14.53 per share. Revenue grew 18.3% on a year-over-year basis.
The company said it expects third quarter earnings of $32.40 to $34.10 per share. The current consensus earnings estimate is $34.42 per share for the quarter ending September 30, 2017.
Priceline Group Inc
is a provider of online travel and travel related reservation and search
services. The Company offer consumers accommodation reservations through its
Booking.com, priceline.com and agoda.com brands.
The Priceline Group Reports Financial Results for 2nd Quarter 2017
NORWALK, CT – August 8, 2017. . . The Priceline Group Inc. (NASDAQ: PCLN) today reported its 2nd quarter
2017 financial results. Second quarter gross travel bookings for The Priceline Group (the "Company," the "Group,"
"we," "our" or "us"), which refers to the total dollar value, generally inclusive of taxes and fees, of all travel
services booked by its customers, net of cancellations, were $20.8 billion, an increase of 16% over a year ago
(approximately 19% on a constant-currency basis).
The Group's gross profit for the 2nd quarter was $3.0 billion, a 21% increase from the prior year (approximately
24% on a constant-currency basis). International operations contributed gross profit in the 2nd quarter of $2.6
billion, a 24% increase versus a year ago (approximately 26% on a constant-currency basis). Net income in the 2nd
quarter was $720 million, a 24% increase versus the prior year. Net income was $14.39 per diluted share, a 24%
increase as compared to the prior year.
Non-GAAP net income in the 2nd quarter was $758 million, a 20% increase versus the prior year. Non-GAAP net
income was $15.14 per diluted share, a 20% increase compared to $12.59 per diluted share a year ago. Adjusted
EBITDA for the 2nd quarter 2017 was $974 million, a 20% increase versus a year ago. The section below entitled
"Non-GAAP Financial Measures" provides definitions and information about the use of non-GAAP financial
measures in this press release, and the attached financial and statistical supplement reconciles non-GAAP financial
information with the Group's financial results under GAAP.
"The Priceline Group achieved strong results for the second quarter," said Glenn Fogel, Chief Executive Officer of
the Priceline Group. "Globally, our accommodation business booked 170 million room nights in the quarter, up
21% over the same period last year." Looking forward, Mr. Fogel said, "We are pleased with the performance of
the business and will continue to build our franchise by adding properties to the platform and by investing in
technology, customer experience and content expansion."
For the full press release, please go here