Priceline.com Falls on Q3 Earnings Results

Shares of Priceline.com PCLN are trading lower in the after-hours following the release of the company's Q3 earnings results. Currently, shares are lower by 4.71%, trading at $485.01; they ended the regular session lower by 0.85%, at $509.00. Priceline.com reported Q3 non-GAAP EPS of $9.95 on revenues of $1.5 billion; international operations contributed revenues in the 3rd quarter of $953 million, a 79% increase versus a year ago. Adjusted EBITDA for the 3rd quarter 2011 was $644.5 million, an increase of 78% over a year ago. “The Group's businesses all enjoyed a strong 3rd quarter,” said Jeffery H. Boyd, President and Chief Executive Officer of the Priceline Group. “Our global hotel nights grew by 47% over last year, reflecting moderate deceleration from the 2nd quarter. We believe our retail hotel businesses at Booking.com, Agoda and priceline.com continued to take meaningful share in their respective markets during the quarter, though our Name Your Own Price hotel business is challenged by increasing competition in the discount space.” Priceline.com Incorporated is a global online travel company that offers its customers a range of travel services, including the opportunity to purchase hotel room reservations, car rentals, airline tickets, vacation packages, cruises and destination services in a price-disclosed manner.