Priceline (NASDAQ:PCLN) Reveals its Earnings Report for its Third Quarter
The famous Priceline Group Inc. (NASDAQ: PCLN) recently displayed its earnings per share for the third quarter before the opening of market on Monday. The company generated some $2.68b with earnings per stock of almost $22.68 in contrast with last year’s Q3 reports which showed net earnings of 2.27b dollars and earnings per shares of $17.3. Whereas, the predictions for this year, estimated by the renowned Thomson Reuters displayed revenues of 2.83 billion with earnings per share of only $21.11.
So, we see that the company managed to perform better than expected. For the coming quarter the company gave predictions for earnings per share of 9.4 to 10.1 dollars and expects increments of 11 to 18 percent year over year. While the analysts estimate the revenue to reach 1.91 billion with earnings per share of $10.91. However the net profit earned was $1.21 billion which is a tremendous 29% increase in comparison to last years earnings. For the fourth quarter the company is hopeful in getting more and more bookings.
In fact, the company (NASDAQ: PCLN) expects increases of 8 to 15 % or maybe less than the predictions given for the quarter. Surprisingly the amount of international bookings during the third quarter were 32% more than the previous year, whereas, the company (NASDAQ: PCLN) has predicted the growth to remain slower during the fourth quarter in a range of 10 to 16%. The company (NASDAQ: PCLN) is famous for its excellent services regarding hotels, car rentals and tourism.
Priceline (NASDAQ: PCLN) is known for its sophisticated operations and has promised 100% bookings and allows space for the last minute reservations. The costumers have always preferred Priceline over several equivalent companies due its excellent reputation. So, this trust is somehow the main factor behind the company’s position. The company’s (NASDAQ: PCLN) CEO stated in one of the events that the company completed the quarter with successful results. The summer season was quite profitable for the company which gave the company an upper hand over the market.
Priceline (NASDAQ: PCLN) managed to make successful reservations of 95 million rooms during the third quarter. In fact this amount is 27% more than last year’s reports. However,booking.com continues to lead the market which provides bookings for more than 500,000 hotels around the world, while, the rental car service also made some increments of about 18% in contrast to the third quarter. The CEO says that the company (NASDAQ: PCLN) is performing quite well in the market and has made great achievements in their respective fields.
The company (NASDAQ: PCLN) is striving to make its way through the competitive market in Europe as well as the world. This can be achieved by broadening their field of operations and extending their business to far away markets across the globe. Finally, the company shares were down by 0.6% before the market opened on Monday, and after the reports were revealed the shares went down to 6.5%. This, at present poses a threat towards the company’s position but the CEO is quite positive about it and says that the company will manage to stay afloat in the coming quarter.