Priceline, TripAdvisor Crushed Following Q3 Earnings

Priceline Group Inc PCLN was crushed in Monday's after-hours session despite delivering a third-quarter earnings beat.

The travel-booking platform reported third-quarter adjusted EPS of $35.22, beating estimates by 97 cents.

Q3 Highlights

  • Gross profits increase 22 percent year-over-year to 4.4 billion; and
  • $21.8 billion in all travel services booked in Q3, up 18 percent year-over-year.

"Priceline Group delivered solid growth and operating results during our seasonally busy third quarter," said CEO Glenn Fogel. "Globally, our accommodation business booked 178 million room nights in the third quarter... Booking.com showed continued momentum with approximately 1.5 million properties on its platform, up 41% over last year. This represents 26.9 million potentially bookable rooms, which we believe to be the largest, and most diverse, selection of instantly bookable accommodations in the world."

Shares fell more than 6 percent, trading around $1,775 at time of publication.

Tripadvisor Inc TRIP was also crushed.

The world’s largest travel website reported third-quarter EPS of 36 cents, beating estimates by a penny, but sales fell short $12 million short of estimates at $439 million.

Q3 Highlights

  • Revenues up 4 percent year-over-year;
  • User reviews and opinions grew 32 percent year-over-year reaching 570 million; and
  • Non-hotel revenue grew 26 percent year-over-year led by growth in attractions and restaurants.

“We are making progress on our 2017 initiatives,” said CEO Steve Kaufer. “In Hotels, we are pursuing profitable long-term revenue growth through an improved shopper experience and a marketing shift to brand-building channels. In Non-Hotels, we are investing to increase our lead, particularly in Attractions, as we broaden our marketplace and further deepen traveler engagement in more moments on their trip.”

The stock traded at $35.55, down 10 percent at time of publication.

Posted In: Glenn FogelSteve KauferEarningsNewsTravelTop StoriesAfter-Hours CenterMoversGeneral

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.