Loading...
Loading...
Priceline Group
PCLN reported a 36% gain in its first-quarter earnings.
Priceline's quarterly profit surged to $331.2 million, or $6.25 per share, versus a year-ago profit of $244.3 million, or $4.76 per share. Excluding special items, its earnings surged to $7.81 per share from $5.76 per share.
Its revenue jumped 26% to $1.64 billion. The company in February expected a profit of $6.35 to $6.85 per share on revenue growth of 15% to 25%. Analysts were expecting a profit of $6.91 per share on revenue of $1.63 billion.
Priceline's gross bookings increased 34%, while international bookings jumped 37%. Its domestic bookings also surged 19%.
Priceline expected current-quarter profit of $11.22 to $12.02 per share on revenue growth of 19% to 29%. However, analysts projected a profit of $12.27 per share on 26% revenue growth.
Priceline shares gained 1.62% to $1,150.02 in pre-market trading.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in