PCLN
$1,818.20
Priceline Group
$16.66
.92%
Earnings Details
2nd Quarter June 2017
Tuesday, August 8, 2017 4:00:00 PM
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Summary

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.

Results
Reported Earnings
$15.14
Earnings Whisper
$14.53
Consensus Estimate
$14.25
Reported Revenue
$3.02 Bil
Revenue Estimate
$3.00 Bil
Growth
Earnings Growth
Revenue Growth
Power Rating
Grade
Earnings Release

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