Shares of Priceline Group Inc PCLN shot up nearly 4 percent after beating fourth quarter estimates on Monday. The travel service provider is now reaching all-time high territory following the positive report.
- Priceline Reports Q4 Adj. EPS of $14.21, beating by $1.23
- Sales came in at $2.348 Billion, beating by $28 million
- Gross Profit was up 21% year over year
- Sees Q1 Adj. EPS of $8.25-$8.65 vs $10.56 estimate
"The Priceline Group finished 2016 with a strong 4th quarter, reporting accelerating growth in hotel room nights booked, with solid organic growth and attractive profit margins," said CEO Glenn Fogel. "We also recorded accelerating growth in room nights booked for the full year 2016 over 2015, which reflects the benefits of our scaled accommodations platform and strong execution by our global teams."
The stock traded recently at $1,666, up about 1.7 percent in after-hours trading.
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