Sunday, January 27, 2013

Priceline shares jump on 3Q earnings | Synopsis

Priceline shares jump on 3Q earnings

Net Worth of Richest 25 U.S. House of Representatives
Net Worth of Richest 25 U.S. House of Representatives by Cory M. Grenier
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Excerpt:

NORWALK, Conn. –  Profit at travel website operator Priceline. com Inc. grew 27 percent in the third quarter, buoyed by a sharp rise in revenue on increased travel bookings. The company's adjusted results topped Wall Street forecasts, lifting its shares almost 10 percent in after-hours trading on Thursday. Priceline reported net income of $596. 6 million, or $11. 66 per share, for the three months ended Sept. 30. That compares with net income of $469. 5 million, or $9. 17 per share, in the prior-year period. Excluding the impact of share-based compensation and other special items, Priceline earned $12. 40 per share in the latest quarter. On that basis, the results exceeded analysts' consensus forecast, which called for earnings of $11. 82 per share, according to FactSet. Priceline's revenue grew 17 percent to $1. 71 billion from $1. 45 billion a year earlier, as agency and merchant revenue both improved.

Priceline shares jump on 3Q earnings

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