Priceline.com Inc. just released its third quarter fiscal 2016 financial results, posting earnings of $30.94 per share (accounting for non-stock based compensation and BNRI) and revenues of $3.6 billion. PCLN is a #3 (Hold), and is up 5.79% to $1566.00 per share in after-hours trading after its earnings report was released.
Beat earnings estimates. The company reported earnings of $30.94 per share, surpassing the Zacks Consensus Estimate of $28.40 per share. This number excludes $20.81 from non-recurring items.
Matched revenue estimates. The company saw revenue figures of $3.6 billion, matching our estimate of $3.617 billion and increasing 22% year-over-year (approximately 23% on a constant-currency basis).
In Q3, international operations contributed gross profit of $3.3 billion, up 25% year-over-year (approximately 26% on a constant-currency basis).
Priceline reported adjusted EBITDA for of $1.9 billion, an increase of 19% versus the prior year period.
“The Priceline Group brands executed well during our peak summer travel season,” said Jeffery H. Boyd, Chairman and Interim Chief Executive Officer of The Priceline Group. “Globally, our accommodation business booked 150 million room nights in the 3rd quarter, up 29% over the same period last year. The acceleration in room night growth demonstrates the favorable market in which we operate as well as the value of our diverse global platform.”
Here’s a graph that looks at Priceline’s price, consensus, and EPS surprise:
Priceline.com has pioneered a unique e-commerce pricing system known as a demand collection system that enables consumers to use the Internet to save money on a wide range of products and services while enabling sellers to generate incremental revenue. Using a simple and compelling consumer proposition - Name Your Own Price - priceline.com collects consumer demand, in the form of individual customer offers guaranteed by a credit card, for a particular product or service at a price set by the customer.
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