Shares Of Priceline Gain On Better-than-expected Quarterly Earnings

By Sue Chang Markets MarketWatch Pulse

Shares of Priceline Group Inc. climbed in Monday's extended session after the online travel company posted robust quarterly earnings. Priceline reported fourth-quarter earnings rose to $673.9 million, or $13.47 a share, from $504.3 million, or $10 a share, a year earlier. On an adjusted basis, the company would have earned $14.21 a share. Revenue rose 21% to $2.35 billion. Analysts surveyed by FactSet had forecast earnings of $12.89 a share on revenue of $2.33 billion. In the first quarter, the company projected adjusted earnings per share in a range of $8.25 to $8.65, below the average estimate of $10.46 a share. Priceline shares rose 2.5% after hours.

Continue Reading Below

Copyright © 2017 MarketWatch, Inc.