Priceline Group
Earnings Details
2nd Quarter June 2016
Thursday, August 04, 2016 4:00:00 PM
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Priceline Group Beats

Priceline Group (PCLN) reported 2nd Quarter June 2016 earnings of $14.04 per share on revenue of $2.6 billion. The consensus earnings estimate was $12.69 per share on revenue of $2.6 billion. The Earnings Whisper number was $13.02 per share. Revenue grew 12.1% on a year-over-year basis.

The company said it expects third quarter earnings of $28.30 to $29.80 per share on revenue of $3.48 billion to $3.63 billion. The current consensus earnings estimate is $28.64 per share on revenue of $3.59 billion for the quarter ending September 30, 2016.

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.

Reported Earnings
Earnings Whisper
Consensus Estimate
Reported Revenue
$2.56 Bil
Revenue Estimate
$2.60 Bil
Earnings Growth
Revenue Growth
Power Rating
Earnings Release

The Priceline Group Reports Financial Results for 2nd Quarter 2016

NORWALK, CT – August 4, 2016. . . The Priceline Group Inc. (NASDAQ: PCLN) today reported its 2nd quarter 2016 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 all taxes and fees, of all travel services purchased by its customers, net of cancellations, were $17.9 billion, an increase of 19% over a year ago (approximately 21% on a constant-currency basis).

The Group's gross profit for the 2nd quarter was $2.4 billion, a 16% increase from the prior year (approximately 18% on a constant-currency basis). International operations contributed gross profit in the 2nd quarter of $2.1 billion, a 17% increase versus a year ago (approximately 19% on a constant-currency basis). The Group had net income for the 2nd quarter of $581 million, a 12% increase versus the prior year. Net income per diluted share was $11.60, an increase of 17% compared to the prior year, reflecting the impact of $2.5 billion of stock repurchases or 2.0 million shares over the last four quarters.

Non-GAAP net income in the 2nd quarter was $703 million, an 8% increase versus the prior year. Non-GAAP net income was $13.93 per diluted share, a 12% increase compared to $12.45 per diluted share a year ago. Adjusted EBITDA for the 2nd quarter 2016 was $867 million, an increase of 8% 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 executed another strong quarter as we witnessed a solid start to the summer travel season,” said Jeffery H. Boyd, Chairman and Interim Chief Executive Officer of The Priceline Group. “Globally, our accommodation business booked 141 million room nights in the second quarter, up 24% over the same period last year. We believe this consistent growth demonstrates the strength of our brands, the value of a diversified global footprint and solid execution by our brand management teams.”

Looking forward to the third quarter, Mr. Boyd said, “As we move into our peak travel season, our teams are focused on delivering an exceptional customer experience by offering the best selection and competitive pricing to our customers around the world.”

For the full press release, please go here