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Priceline.com Reports Financial Results for 3rd Quarter 2013

11/08/2013| 9:49:34 AM| 中文

The Group's gross profit for the 3rd quarter was $2.0 billion, a 42.4% increase from the prior year. International operations contributed gross profit in the 3rd quarter of $1.8 billion, a 42.1% increase versus a year ago (approximately 39% on a local currency basis).

NORWALK, Conn., November 7, 2013 - The Priceline Group (NASDAQ: PCLN) today reported its 3rd quarter 2013 financial results. Third quarter gross travel bookings for The Priceline Group (the “Group”), which refers to the total dollar value, generally inclusive of all taxes and fees, of all travel services purchased by its customers, were $10.8 billion, an increase of 37.5% over a year ago (approximately 36% on a local currency basis).

The Group's gross profit for the 3rd quarter was $2.0 billion, a 42.4% increase from the prior year. International operations contributed gross profit in the 3rd quarter of $1.8 billion, a 42.1% increase versus a year ago (approximately 39% on a local currency basis). The Group had GAAP net income applicable to common shareholders for the 3rd quarter of $833 million, or $15.72 per diluted share, which compares to $597 million or $11.66 per diluted share, in the same period a year ago.

Non-GAAP net income in the 3rd quarter was $920 million, a 44.2% increase versus the prior year. Non-GAAP net income was $17.30 per diluted share, compared to $12.40 per diluted share a year ago. FactSet consensus for the 3rd quarter 2013 was $16.23 per diluted share. Adjusted EBITDA for the 3rd quarter 2013 was $1.1 billion, an increase of 42.6% over a year ago. The section below entitled "Non-GAAP Financial Measures" provides definitions and information about the use of non-GAAP financial measures in this press release, and the attached financial and statistical supplement reconciles non-GAAP financial information with the Group's financial results under GAAP.

“The Priceline Group finished the summer travel season with strong growth and operating performance,” said Jeffery H. Boyd, Chairman and Chief Executive Officer of The Priceline Group. “Booking.com and Agoda posted solid third quarter results leading to 36% room night growth for the Group, and the U.S. business of priceline.com showed positive momentum with accelerating bookings growth.”

Looking forward, Mr. Boyd said: “Our brands are performing well in a very competitive environment. We believe the Group is well positioned to drive future growth through investments in geographic expansion, supply and content, product and marketing.”

The Priceline Group said it was targeting the following for 4th quarter 2013:

• Year-over-year increase in total gross travel bookings of approximately 27% - 34% (an increase of approximately 26% - 33% on a local currency basis).

• Year-over-year increase in international gross travel bookings of approximately 29% - 36% (an increase of approximately 28% - 35% on a local currency basis).

• Year-over-year increase in domestic gross travel bookings of approximately 17% - 24%.

• Year-over-year increase in revenue of approximately 19% - 26%.

• Year-over-year increase in gross profit of approximately 30% - 37%.

• Adjusted EBITDA of approximately $510 million to $540 million.

• Non-GAAP net income per diluted share between $7.80 and $8.30.

TAGS: Priceline | Financial Results
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