Priceline Group Inc. (PCLN) - NASDAQ
  • Wed, May 4, 7:45 AM
    • Priceline (NASDAQ:PCLN) reports profit jumped 21% in Q1 to $2B with international operations accounting for the bulk of the gain. The company ended the period with a gross profit rate of 20.8% vs. 18.9% a year ago.
    • Total gross bookings were up 20.9% to $16.653B (+26% ex-F/X). Hotel room units sold showed the biggest increase in the quarter with a 31% Y/Y pop.
    • Priceline says it will target total gross travel bookings growth of 11% to 18% in Q2. Revenue is seen growing 7% to 14%. The outlook on EPS for a $11.60 to $12.50 range falls short of consensus estimates.
    • Previously: Priceline beats by $0.88, beats on revenue (May 4)
    • PCLN -11.82% premarket to $1195.06.
    | Wed, May 4, 7:45 AM | 11 Comments
  • Wed, May 4, 7:24 AM
    • Priceline (NASDAQ:PCLN): Q1 EPS of $10.54 beats by $0.88.
    • Revenue of $2.15B (+16.8% Y/Y) beats by $30M.
    • Shares -11.82% PM.
    • Press Release
    | Wed, May 4, 7:24 AM | 15 Comments
  • Tue, May 3, 5:30 PM
  • Wed, Feb. 17, 10:14 AM
    • Expedia (EXPE +6.4%) and TripAdvisor (TRIP +4.1%) are seeing healthy gains as Priceline (PCLN +10.6%) surges after beating Q4 estimates and reporting bookings growth accelerated to 13% Y/Y from Q3's 7% (and beat guidance for 1%-8% growth). Last week, Priceline and TripAdvisor gained in response to Expedia's Q4 numbers.
    • Guidance: Priceline's Q1 top-line guidance is healthy: Bookings are expected to rise 12%-19% Y/Y (18%-25% exc. forex), room nights by 20%-27%, and revenue by 9%-16% (compares with Q4's 9%). EPS guidance of $9.00-$9.60 is below a $9.61 consensus, but (as Q4 results show) Priceline has a history of issuing conservative EPS outlooks.
    • Q4 top-line performance: International revenue (89% of total revenue) rose 15.9% Y/Y (29% exc. forex) to $10.7B; U.S. revenue fell 7.6% to $1.3B. Agency revenue rose 15.3% to $10.3B; merchant revenue fell 0.9% to $1.7B.

      Room nights booked rose 26.6% to 99.1M, an improvement from Q3's 22% growth and the highest growth rate seen since Q3 2014. Rental car days +10.6% to 12.2M vs. +13% in Q3. Air tickets -2.6% to 1.7M vs. -1.1% in Q3.
    • Financials: GAAP operating expenses rose 11% Y/Y to $1.22B - $582M was spent on online ads (much of it going to Google), $33.4M on offline ads, $83.7M on sales/marketing, $106.6M on G&A, $32.3M on IT, $70.7M on depreciation/amortization, and $312.6M on "Personnel" expenses, including stock compensation.

      Priceline ended Q4 with $2.6B in cash, $7.9B in long-term investments, and $6.2B in long-term debt.
    • Priceline's Q4 results, earnings release
    | Wed, Feb. 17, 10:14 AM
  • Wed, Feb. 17, 7:26 AM
    • Priceline (NASDAQ:PCLN): Q4 EPS of $12.63 beats by $0.83.
    • Revenue of $2B (+8.7% Y/Y) beats by $40M.
    • Shares +8.04% PM.
    • Press Release
    | Wed, Feb. 17, 7:26 AM
  • Wed, Feb. 17, 7:19 AM
    • Priceline (NASDAQ:PCLN) reports gross travel bookings rose 12.7% to $12.02B in Q4.
    • International bookings were up 15.9% (+29% constant currency), while U.S. bookings fell back 7.6%.
    • Gross profit was up 12.2% to $1.879B. Operating expenses increased 11.5% to $1.221B.
    • The company sees Q1 gross travel bookings growth of 12% to 19% and EPS of $9.00 to $9.60 vs. $9.60 consensus.
    • PCLN +10.0% premarket to $1,222.
    | Wed, Feb. 17, 7:19 AM | 8 Comments
  • Tue, Feb. 16, 5:30 PM
  • Wed, Feb. 10, 5:33 PM
    • Though Expedia (NASDAQ:EXPE) missed Q4 EPS and (to a lesser extent) revenue estimates, the company reported gross bookings rose 32% Y/Y (40% exc. eLong, which has been divested) to $15B. Excluding eLong and the acquisitions of Orbitz/HomeAway, bookings rose 17% to $12.5B.
    • Top-line performance: Expedia's core travel agency business saw bookings rise 44% to $13.6B, and its Egencia managed travel services business saw bookings rise 13% to $1.4B. U.S. bookings +50% to $9.6B; international bookings (hurt by a strong dollar) +26% to $5.4B. Hotel revenue +24%, air revenue (major boost from Orbitz) +61%, ad/media revenue +22%, other revenue +37%.
    • Metrics: Excluding eLong (and including Orbitz/HomeAway), room nights rose 39% Y/Y to 52.8M thanks to both M&A and organic growth. U.S. room nights +33%, international +47%. Revenue/night fell 11%. Air ticket sales rose 70% thanks to Orbitz, with revenue/ticket dropping 5%.
    • Financials: Thanks in part to Orbitz/HomeAway, adjusted costs/expenses rose 37% Y/Y to $1.57B, with sales/marketing spend rising 33% to $775M and R&D 48% to $170M. $45M was spent on buybacks. 2015 free cash flow was $581M (-44% Y/Y due to higher capex). Expedia ended 2015 with $1.7B in cash and $3.2B in debt.
    • Expedia has jumped to $106.00 after hours. Priceline (NASDAQ:PCLN) is up 4.6% to $1,080.00. TripAdvisor (NASDAQ:TRIP) is up 6.7% to $58.00.
    | Wed, Feb. 10, 5:33 PM
  • Nov. 9, 2015, 8:18 AM
    • Priceline (NASDAQ:PCLN) reports total bookings rose 7% to $14.8B (+22% in constant currency).
    • Gross profit increased 12% to $2.9B (+29% in constant currency).
    • Adjusted EBITDA +12% to $1.6B.
    • Guidance: Total gross bookings growth of +1% to +8% expected in Q4. EPS of $11.10 to $11.90 anticipated vs. $12.42 consensus.
    • Previously: Priceline beats by $1.12, beats on revenue (Nov. 09 2015)
    • PCNL -4.55% premarket to $1384.00.
    | Nov. 9, 2015, 8:18 AM | 3 Comments
  • Nov. 9, 2015, 7:49 AM
    • Priceline (NASDAQ:PCLN): Q3 EPS of $25.35 beats by $1.12.
    • Revenue of $3.1B (+9.2% Y/Y) beats by $50M.
    • Shares -7.17% PM.
    | Nov. 9, 2015, 7:49 AM
  • Nov. 8, 2015, 5:30 PM
  • Nov. 6, 2015, 1:32 PM
    • Priceline (PCLN -1.6%) and Expedia (EXPE -2.9%) have sold off after TripAdvisor (TRIP -6.8%) posted a Q3 miss and cut its full-year revenue growth forecast. On its earnings call (transcript), TripAdvisor stated the rollout of Instant Booking (allows bookings to be made on TripAdvisor's site/apps, Priceline recently signed up) is affecting near-term revenue by pushing out revenue recognition relative to referral (click-based) payments.
    • Also: Priceline says it's uninterested in making a rival bid for top vacation rental marketplace HomeAway (AWAY -6.2%), which recently agreed to a $3.9B sale to Expedia. HomeAway has fallen to $37.73, a price close to what Expedia's cash/stock offer is currently worth.
    • TripAdvisor's management faced earnings call questions about the impact of Instant Booking on monetization and conversion rates. It insisted IB, and the the Priceline deal in particular, will be a major positive. "The reason Priceline enables us to accelerate our [Instant Booking] rollout globally is because of the rich content that they have on 400,000 plus properties all around the globe, and by that I mean they are able to successfully take bookings on 400,000 plus properties in multiple, multiple, different language, processing payments for multiple different credit card by multiple different banks."
    • At the same time, management is taking a cautious approach to modeling international IB sales. "[W]hile we have the decent amount of experience now in U.S. and U.K., we don't quite know how [Instant Booking] is going to flowing in, in France, in Japan, all throughout age, all throughout all the other markets that we look to roll it out in."
    • Oppenheimer's Jed Kelly has downgraded TripAdvisor to Perform, citing slightly weaker hotel trends and the "monetization drag" Instant Booking could have in the near-term. Nonetheless, he thinks the Priceline deal "should eventually enhance earnings long term, especially as revenue leakage and improving mobile monetization eventually equates to higher revenue per hotel shopper."
    • Priceline and TripAdvisor rallied last week in response to Expedia's Q3 results and full-year guidance hike. Priceline reports on Monday morning.
    | Nov. 6, 2015, 1:32 PM
  • Oct. 29, 2015, 6:01 PM
    • Expedia (NASDAQ:EXPE) has jumped to $135.70 after hours, making new highs after beating Q3 EPS estimates (while slightly missing on revenue) and reporting a 21% Y/Y increase in gross bookings (exc. eLong) to $15.4B, a slight improvement from Q2's 20% growth. Rival Priceline (NASDAQ:PCLN), which reports on Nov. 9, is up 1.1% to $1,441.00.
    • Q3 geographic performance: U.S. revenue rose 18% Y/Y to $1.05B, and international revenue 15% (33% exc. forex) to $890M. U.S. bookings rose 22% to $9.6B, and international bookings 19% (37% exc. forex) to $5.8B.
    • Metrics: Hotel room nights +36% Y/Y to 61.5M (25% U.S. growth, 50% international); revenue/night -15%. Air tickets sold +31%; revenue/ticket -9%. The core travel agency business (OTA) saw revenue rise 18% to $1.74B; trivago (metasearch) revenue rose 27% to $176M, and Egencia (managed travel services) fell 3% to $94M.
    • Sales/marketing spend (much of it going to Google) remained heavy, rising 20% Y/Y on an adjusted basis to $929.8M. Expedia ended Q3 with $1.5B in cash, and $2.5B in long-term debt.
    • Q3 results, PR
    | Oct. 29, 2015, 6:01 PM | 1 Comment
  • Aug. 5, 2015, 8:58 AM
    • Priceline (NASDAQ:PCLN) reports total bookings rose 11% to $14.96B (+26% in constant currency).
    • Gross profit rose at the same rate as bookings, up 11% to $2.093B.
    • U.S. bookings +0.7% to $1.86B
    • International bookings +12% to $13.092B
    • Guidance: Total gross bookings growth of -1% to +6% expected. EPS of $22.95-$24.45 forecast vs. $23.32 consensus.
    • PCNL +8.26% premarket to $1390.00.
    | Aug. 5, 2015, 8:58 AM | 1 Comment
  • Aug. 5, 2015, 8:28 AM
    • Priceline (NASDAQ:PCLN): Q2 EPS of $12.45 beats by $0.47.
    • Revenue of $2.28B (+7.5% Y/Y) beats by $10M.
    • Shares +9.7% PM.
    | Aug. 5, 2015, 8:28 AM | 2 Comments
Company Description
The Priceline Group, Inc. is an online travel company, which provides consumers accommodation reservations including hotels, bed and breakfasts, hostels, apartments, vacation rentals and other properties through its Booking.com, priceline.com and agoda.com brands. Its priceline.com brand also... More
Sector: Services
Industry: General Entertainment
Country: United States