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PricelinePCLN beat Wall Street's fourth-quarter expectations as revenue rose more than 27%. Shares of Priceline recently rose 5.6% in after-hours trading to $48.50. The online travel retailer said net income rose to $13.2 million, or 33 cents a share, from $3.8 million, or 9 cents a share, a year earlier. The latest quarter was helped by an income tax benefit of $3 million via a reduction in the Netherlands' statutory tax rate. Excluding items, the company earned $22.4 million or 58 cents a share, blowing past Thomson Financial estimates of 40 cents a share. Revenue rose to $260.1 million from $203.9 million. Analysts had expected $235.9 million. For the first quarter, the company said it expects to earn between 22 cents and 30 cents a share before items; analysts had expected 29 cents a share. The company expects revenue to rise about 15%. For the full year, Priceline.com said it expects to earn $2.60 to $2.90 a share before items. Analysts had forecast earnings of $2.53 a share.
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