This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Tax Gain's Good to Priceline (PCLN) said two acquisitions helped lift third-quarter revenue nearly 10% from a year ago, and the online travel service company's net income was sharply higher thanks to a big tax gain.

The Norwalk, Conn., company beat Wall Street's earnings estimates, sparking an after-hours rally, but offered fourth-quarter guidance that, at best, was in line with expectations.

Revenue in the third quarter totaled $258.8 million, up from $235.9 million a year ago. The latest results include the acquisitions of Active Hotels and Bookings B.V. Gross travel bookings were $611.1 million, up 40% from the third quarter of 2004.

When calculated according to generally accepted accounting principles, the company earned $170.6 million, or $3.71 a diluted share, including a $160 million noncash tax benefit. Priceline earned $9.3 million, or 23 cents a share, a year ago.

Excluding items, Priceline had a profit of 47 cents in the third quarter, 10 cents above the consensus estimate carried by Thomson First Call and up from 28 cents last year.

The company projected an adjusted profit of 24 cents to 28 cents a share for the fourth quarter, vs. the mean estimate of 28 cents. Still, full-year earnings should be $1.33 to $1.37 a share before items, topping expectations.

Additionally, Priceline's board gave the company the authority to buy back up to $50 million worth of its common stock.

Shares soared $2.54, or 13%, to $22.04 in after-hours trading. They finished Wednesday's session down 4 cents at $19.50.

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,778.15 +421.28 2.43%
S&P 500 2,061.23 +48.34 2.40%
NASDAQ 4,748.3960 +104.0840 2.24%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs