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/
