Priceline Beats Estimates; Offers Weak Q4 Guidance
Priceline Group Inc (NASDAQ: PCLN) reported third quarter 2014 earnings Tuesday morning.
The company reported EPS of $22.16 per share on revenue of $2.84 billion, beating both top and bottom line estimates.
As outlined in the company's form 8-k, highlights from the quarter include:
- "Year-over-year increase in total gross travel bookings of approximately 8% - 15% (an increase of approximately 13% - 20% on a local currency basis).
- Year-over-year increase in international gross travel bookings of approximately 10% - 17% (an increase of approximately 16% - 23% on a local currency basis).
- Year-over-year increase in domestic gross travel bookings of approximately 0% - 5%.
- Year-over-year increase in revenue of approximately 11% - 18%.
- Year-over-year increase in gross profit of approximately 17% - 24%
- Adjusted EBITDA of approximately $625 million to $665 million.
- Non-GAAP net income per diluted share between $9.40 and $10.10."
Despite beating estimates, shares of Priceline recently traded at $1,118.01, down 6.6 percent amid weak Q4 guidance of $9.40 to $10.10 versus the $10.91 analyst estimate.
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