NEW YORK (TheStreet) -- Shares of Priceline Group Inc. (PCLN) are rising by 2.63% to $1,315.24 in mid-morning trading on Monday, after the company reported a 31% increase in net income to $667 million, or $12.51 per diluted share for the 2014 second quarter, compared to $508 million, or $9.70 per diluted share for the year ago period.
The online travel company said revenues for the most recent quarter increased to $2.12 billion from $1.68 billion for the 2013 second quarter.
Analysts polled by Thomson Reuters expected earnings per share of $12.04, on revenue of $2.15 billion.
Separately, TheStreet Ratings team rates PRICELINE GROUP INC as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:
"We rate PRICELINE GROUP INC (PCLN) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance, impressive record of earnings per share growth and compelling growth in net income. We feel these strengths outweigh the fact that the company shows weak operating cash flow."
You can view the full analysis from the report here: PCLN Ratings Report