Priceline goes from strength to strength, despite challenges
08/13/2013|9:13:17 AM|

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.

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