"The Priceline Group delivered solid growth and operating results in the 3rd quarter as growth in the second half of the quarter in our key European market exceeded our forecast," said Jeffery Boyd, the company's president and CEO, in a statement. "Globally our hotel business grew room nights by 36% over the same period last year, compared to 39% growth in the second quarter. Our rental car business grew rental car days by 35% over last year, an acceleration from 29% in the second quarter, led by improving results at priceline.com and continued strong growth from rentalcars.com."
For the fourth quarter, the company forecast earnings of $6.12 to $6.57 a share vs. the current consensus view for a profit of $6.34 a share.
Shares were last quoted at $639, rising more than 9%, on volume of nearly 330,000, according to Nasdaq.com.
Other stocks active in late trades included TripAdvisor (TRIP), whose stock leapt more than 19% after the company blew past Wall Street's expectations for its third-quarter report; and LinkedIn (LNKD), whose shares were up more than 7% after the professional networking site reported a third-quarter profit of 22 cents a share, doubling the average analysts' view.--Written by Michael Baron in New York.
>To contact the writer of this article, click here: Michael Baron.
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