Priceline goes from strength to strength, despite challenges
In the past year, Priceline Inc has regained its status as the star of the travel industry within the financial investment community. Its Q2 earnings call underlined the point.
Priceline total revenue for the second quarter was $1.68 billion (vs. Factset consensus estimates of $1.66 billion). Average daily rate (ADR), adjusted to local currency, was up roughly 1% for the quarter across its range of brands. Gross travel bookings year-over-year spiked between 27% to 34%.
Its absolute margins are higher than its nearest competitor’s, Expedia Inc.’s.
The Priceline brand grew 12% in the US, with TV marketing essential to growth, said CEO Jeffery H. Boyd. Express Deals has become a larger share of its overall mix.
Read full story at: http://www.tnooz.com/2013/08/08/news/priceline-goes-from-strength-to-strength/