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Last Update: 08-Nov-11 09:19 ET
Priceline Tops Fourth Quarter Expectations; Guides Fourth Quarter In-line
Priceline.com (PCLN $509.00) reported third quarter earnings of $9.95 per share, $0.66 better than the Capital IQ Consensus Estimate of $9.29.
Revenues rose 45.2% year/year to $1.45 billion versus the $1.42 billion consensus.
For the fourth quarter, the company issued earnings guidance of $4.90 to $5.00 versus the $5.12 Capital IQ Consensus Estimate.
Fourth quarter Targets: Year-over-year increase in total gross travel bookings of approximately 39-44%; Year-over-year increase in international gross travel bookings of approximately 50-55%; Year-over-year increase in domestic gross travel bookings of approximately 13%; Year-over-year increase in revenue of approximately 27-32%; Year-over-year increase in gross profit of approximately 42% to 47%; Adjusted EBITDA of approximately $310 million to $330 million; Non-GAAP net income of between $4.90 and $5.00 per diluted share.
Revenues rose 45.2% year/year to $1.45 billion versus the $1.42 billion consensus.
For the fourth quarter, the company issued earnings guidance of $4.90 to $5.00 versus the $5.12 Capital IQ Consensus Estimate.
Fourth quarter Targets: Year-over-year increase in total gross travel bookings of approximately 39-44%; Year-over-year increase in international gross travel bookings of approximately 50-55%; Year-over-year increase in domestic gross travel bookings of approximately 13%; Year-over-year increase in revenue of approximately 27-32%; Year-over-year increase in gross profit of approximately 42% to 47%; Adjusted EBITDA of approximately $310 million to $330 million; Non-GAAP net income of between $4.90 and $5.00 per diluted share.
