The Priceline Group (PCLN) Tops Q1 EPS by 99c; Guides Q2 EPS Over $1 Below Views

(Updated - May 9, 2017 4:06 PM EDT)

The Priceline Group (NASDAQ: PCLN) reported Q1 EPS of $9.88, $0.99 better than the analyst estimate of $8.89.

First quarter gross travel bookings for The Priceline Group, which refers to the total dollar value, generally inclusive of taxes and fees, of all travel services booked by its customers, net of cancellations, were $20.7 billion, an increase of 24% over a year ago (approximately 27% on a constant-currency basis).

"The Priceline Group is off to a strong start in 2017 with solid growth in room nights and rental car days booked," said Glenn Fogel, Chief Executive Officer of the Priceline Group. "Globally, our brands booked over 173 million room nights during the quarter, up 27% over the same period last year. Booking.com continues to extend its accommodations network, with over 1.2 million properties on its platform, including hotels, homes and apartments, up 36% over last year. Our rental car business grew rental car days by 15% over the 1st quarter of last year, an acceleration from 14% in the 4th quarter."

Sees Q2 EPS of $13.30-$14, versus the consensus of $15.02.

Mr. Fogel further commented: "Our brands executed well in the quarter, delivering strong performance while making smart and sustainable investments to support future growth and to ensure we provide the best possible experience for our customers."

For earnings history and earnings-related data on The Priceline Group (PCLN) click here.

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