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

By Sue ChangMarketsMarketWatch 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.

Copyright © 2017 MarketWatch, Inc.

Continue Reading Below