The online travel agent beat expectations with earnings of $17.30 a share $1.15 higher than analysts surveyed by Thomson Reuters had predicted. Revenue of $2.27 billion beat estimates by $50 million. Gross travel bookings boosted the top line, rising 37.5% compared to the year-ago quarter.
For the fourth quarter, the Connecticut-based company said it expects to see gross travel bookings increase between 27% and 34% compared to the same quarter a year earlier. International bookings are expected to lead the pack, up 29% to $36%, while domestic bookings should see no-less-impressive 17% to 24% growth. Net profit is expected within the range of $7.80 to $8.30 a share, compared to a consensus estimate of $8.27 a share.
- You can view the full analysis from the report here: PCLN Ratings Report
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