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Priceline Spikes On EPS Beat

Priceline Spikes On EPS Beat - Incorporated NASDAQ:PCLN, Expedia, Inc. NASDAQ:EXPE

Shares of Priceline Group Inc PCLN 0.81% are trading up more than 4 percent on Thursday’s after-hours session, following the announcement of the company’s Q2 results. EPS of $13.93 came in well above the Street’s consensus of $12.69, while revenue of $2.56 billion missed estimates of $2.6 billion.

“The Priceline Group executed another strong quarter as we witnessed a solid start to the summer travel season,” said Chairman and Interim CEO Jeffery H. Boyd. “Globally, our accommodation business booked 141 million room nights in the second quarter, up 24% over the same period last year. We believe this consistent growth demonstrates the strength of our brands, the value of a diversified global footprint and solid execution by our brand management teams.”

For the third quarter, management said it expects EPS between $28.30 and $29.80, on a year-over-year increase in revenue of 12 percent to 17 percent, and a surge in room nights booked of 18 percent to 23 percent.

Shares were up more than 5 percent at $1,435.78 in the after-hours session.

Shares of Tripadvisor Inc TRIP 8.49% fell 8.4 percent on Thursday trading, after the company missed top and bottom line expectations on Wednesday.The other big player in the space, Expedia Inc EXPE 0.84% reported its quarterly results last week, beating EPS estimates, but missing sales expectations.

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