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Priceline Surges On Strong Results

  • Revenue of $3.69 billion comes in ahead of expectations for $3.62 billion.
  • Management guided for Q4 adjusted EPS of $12.20 to $12.80, below estimates of $13.57.
  • Adjusted EBITDA is expected in the $755 million to $795 million range.
  • The company’s accommodation business booked 150 million room nights in the quarter, up 29 percent year-over-year.
  • The firm’s interim CEO, Brett Keller, has been named Chief Executive Officer of Priceline.com, and will respond to the company’s Interim CEO and Chairman of the Board Jeffery H. Boyd.
  • Shares of Priceline were trading up about 4.4 percent at $1,545 in Monday’s after-hours session.

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