Priceline Group Inc. just released its fourth quarter fiscal 2016 earnings results, posting earnings, before non-recurring items, of $14.21 per share and revenues of $2.3 billion. Currently, PCLN is a #3 (Hold) on the Zacks Rank, and is up 1.10% to $1,650.00 per share in trading shortly after its earnings report was released.
Beat earnings estimates. The company reported non-GAAP earnings of $14.21 per share, beating the Zacks Consensus Estimate of $13.06 per share. This number excludes 74 cents from non-recurring items.
Matched revenue estimates. The company saw revenue figures of $2.3 billion, matching our consensus estimate of $2.330 billion and growing 21% year-over-year.
Gross travel bookings came in at $15.1 billion in Q4, increasing 26% year-over-year.
Adjusted EBITDA for Q4 was $869 million, an increase of 22% versus a year ago, while non-GAAP net income came in at $711 million, also increasing 31% year-over-year.
Looking ahead, Priceline expects non-GAAP earnings of $8.25 to $8.65 per share for the first quarter of fiscal 2017, and total gross travel bookings to fall in the growth range of 17% to 22%.
"The Priceline Group finished 2016 with a strong 4th quarter, reporting accelerating growth in hotel room nights booked, with solid organic growth and attractive profit margins," said Glenn Fogel, Chief Executive Officer of The Priceline Group. "We also recorded accelerating growth in room nights booked for the full year 2016 over 2015, which reflects the benefits of our scaled accommodations platform and strong execution by our global teams."
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.
Stocks that Aren't in the News…Yet
You are invited to download the full, up-to-the-minute list of 220 Zacks Rank #1 "Strong Buys" free of charge. Many of these companies are almost unheard of by the general public and just starting to get noticed by Wall Street. They have been pinpointed by the Zacks system that nearly tripled the market from 1988 through 2015, with a stellar average gain of +26% per year. See these high-potential stocks now>>
Image: Bigstock
Priceline Posts Earnings Beat, Huge Surge in Travel Bookings
Priceline Group Inc. just released its fourth quarter fiscal 2016 earnings results, posting earnings, before non-recurring items, of $14.21 per share and revenues of $2.3 billion. Currently, PCLN is a #3 (Hold) on the Zacks Rank, and is up 1.10% to $1,650.00 per share in trading shortly after its earnings report was released.
Beat earnings estimates. The company reported non-GAAP earnings of $14.21 per share, beating the Zacks Consensus Estimate of $13.06 per share. This number excludes 74 cents from non-recurring items.
Matched revenue estimates. The company saw revenue figures of $2.3 billion, matching our consensus estimate of $2.330 billion and growing 21% year-over-year.
Gross travel bookings came in at $15.1 billion in Q4, increasing 26% year-over-year.
Adjusted EBITDA for Q4 was $869 million, an increase of 22% versus a year ago, while non-GAAP net income came in at $711 million, also increasing 31% year-over-year.
Looking ahead, Priceline expects non-GAAP earnings of $8.25 to $8.65 per share for the first quarter of fiscal 2017, and total gross travel bookings to fall in the growth range of 17% to 22%.
"The Priceline Group finished 2016 with a strong 4th quarter, reporting accelerating growth in hotel room nights booked, with solid organic growth and attractive profit margins," said Glenn Fogel, Chief Executive Officer of The Priceline Group. "We also recorded accelerating growth in room nights booked for the full year 2016 over 2015, which reflects the benefits of our scaled accommodations platform and strong execution by our global teams."
Here’s a graph that looks at Priceline’s price, consensus, and EPS surprise:
The Priceline Group Inc. Price, Consensus and EPS Surprise
The Priceline Group Inc. Price, Consensus and EPS Surprise | The Priceline Group Inc. Quote
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.
Stocks that Aren't in the News…Yet
You are invited to download the full, up-to-the-minute list of 220 Zacks Rank #1 "Strong Buys" free of charge. Many of these companies are almost unheard of by the general public and just starting to get noticed by Wall Street. They have been pinpointed by the Zacks system that nearly tripled the market from 1988 through 2015, with a stellar average gain of +26% per year. See these high-potential stocks now>>