Priceline Shares Climb After Earnings Beat

Shares of Priceline were up 10% in pre-market trade Wednesday after the company beat fourth-quarter earnings expectations. Priceline reported net income of $504 million, or $10 a share, up from $452 million, or $8.52 a share in the year-earlier period. Priceline reported adjusted earnings per share of $12.63, above the FactSet consensus of $11.81. The company reported revenue of $2 billion, up from $1.84 billion in the year-earlier period and above the FactSet consensus of $1.96 billion. For the first quarter of 2016, Priceline said it expects adjusted earnings per share between $9 and $9.60. The FactSet consensus was $9.60.