Priceline Group Inc. PCLN reported its second quarter earnings on Monday. Shares of the company are up 3.30 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% year-over-year
• Earnings per
share was $12.51, up 29% versus prior year.
• Priceline.com posted solid 21% 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% 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% 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.
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