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Priceline Group Conference Call Highlights

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Priceline (NASDAQ: PCLN) reported its second quarter earnings on Monday. Shares of the company are up 3.1 percent.

Below are some key highlights from its conference call:

Growth and Results:

• The Group reported consolidated gross bookings for the second quarter of approximately $13.5 billion, up 34 percent year-over-year
• Earnings per share was $12.51, up 29 percent versus prior year.
• Priceline.com posted solid 21 percent growth in gross bookings with strong results in its retail offerings.
• The Name Your Own Price business however continues to be under pressured.
• Rentalcars.com delivered good results and what has become a more competitively intense marketplace.
• Success on mobile remains critical to all of our brands.
• Mobile has become a very material and fast growing booking channel for the group.
• China is also critical for the future.
• As we announced last week, the group expanded its relationship with Ctrip, the largest online travel agency in China.
• Q2 was a strong quarter from a top and bottom line perspective.
• Our Q2 international gross bookings grew by 36 percent in U.S. dollars

Booking.com's:

• Booking.com's platform now is over 525,000 hotels and other accommodations in 205 countries
• reflecting Booking.com's continued aggressive push to extend its lead as the world's largest brand for booking accommodation.
• Another area of investment and innovation for Booking.com has been vacation rentals.
• We are rapidly expanding our footprint of vacation rentals, and we now have over 190,000 directly bookable self-catered properties.
• In the last 12 months, our customers spent over $4 billion on vacation rental, they booked primarily through Booking.com.

KAYAK:

• Targeted expansion in Europe, with the dedicated offline advertising presence.
• We look forward to building the KAYAK's franchise across Europe, in an aggressive, but profitable manner.

Guidance:

• Adjusted EBITDA is expected to range between $1.265 billion, and $1.365 billion, which at the midpoint represents 18 percent growth versus prior year.
• We are targeting non-GAAP fully diluted EPS of approximately $19.60 to $21.10 per share.
• We forecast GAAP EPS between $17.86 and $19.36 per share for Q3.
• In summary, we believe that our forecast reflects another quarter where we would sustain our market leading top-line growth rates while maintaining strong bottom line growth and market leading profit margins.

Posted-In: Earnings News Guidance

 

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