Priceline Spikes On EPS Beat

Shares of Priceline Group Inc PCLN are trading up more than 4 percent on Thursday’s after-hours session, following the announcement of the company’s second quarter results. EPS of $13.93 came in well above the Street’s consensus of $12.69, while revenue of $2.56 billion missed estimates of $2.6 billion.

“The Priceline Group executed another strong quarter as we witnessed a solid start to the summer travel season,” Chairman and Interim CEO Jeffery H. Boyd said. “Globally, our accommodation business booked 141 million room nights in the second quarter, up 24% over the same period last year. We believe this consistent growth demonstrates the strength of our brands, the value of a diversified global footprint and solid execution by our brand management teams.”

For the third quarter, management said it expects net income per diluted share between $26.10 and $27.60, on a year-over-year increase in revenue of 12 percent to 17 percent, and a surge in room nights booked of 18 percent to 23 percent.

Shares of Tripadvisor Inc TRIP fell 8.4 percent on Thursday trading, after the company missed top and bottom line expectations on Wednesday afternoon.The other big player in the space, Expedia Inc EXPE reported its quarterly results last week, beating EPS estimates, but missing sales expectations; shares are still down almost 5 percent in relation to their July 28 close of $119.27, before earnings were released.

Disclosure: Javier Hasse holds no interest in any of the securities or entities mentioned above.