Priceline.com Rockets Higher on Q2 Earnings Beat

Shares of Priceline.com PCLN are trading higher in the after-hours following the release of the company's Q2 earnings results. Currently, shares are higher by 11.31%, trading at $538.01; they ended the regular session lower by 7.40%, at $483.34. Priceline.com reported Q2 EPS of $5.49 on revenues of $1.1 billion; the Street was looking for $4.89 per share on revenues of $1.08 billion. Revenues increased 43.7% year over year. “The Group benefitted from strong 2nd quarter performances by our global hotel and rental car businesses,” said Jeffery H. Boyd, President and Chief Executive Officer of the Priceline Group. “Global hotel room nights increased 56% compared to last year, while global rental car days were up 55% for the 2nd quarter. In general, our hotel booking business is benefitting from improving ADRs, continuing strength in our core markets, and high rates of growth in new markets, particularly Asia-Pacific, where both Booking.com and Agoda are performing well.” Priceline.com Incorporated is a global online travel company that offers its customers a range of travel services, including the opportunity to purchase hotel room reservations, car rentals, airline tickets, vacation packages, cruises and destination services in a price-disclosed manner.