Shares of Priceline (PCLN) are up $32.96, or almost 6%, at $624.50, after the company this afternoon reported Q4 revenue and profit well ahead of expectations, and forecast this quarter’s profit per share higher as well.
Revenue in the three months ended in December rose 35.5%, year over year, to $991 million, yielding EPS of $5.37 per share.
Analysts had been modeling $968 million and $5.05 per share.
The total dollar value of travel booked rose 52%, year over year, to $4.96 billion, Priceline said.
CEO Jeffrey Boyd remarked, ” We believe that each of our brands, Booking.com, Agoda and priceline.com, gained share in the retail hotel room reservations market, while our Name Your Own Price hotel business in the United States continued to be impacted by increased competition in the discount market.�
For the current quarter, the company sees revenue rising year over year in a range of 22% to 27%. With revenue a year ago of $809.3 million, that would amount to $$987 million to $1.03 billion. At the mid-point, $1.01 billion, that is in line with consensus estimates.
For non-GAAP net profit, the company is forecasting $3.80 to $3.90 per share, better than the average $3.73 the Street has been modeling.
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