Publish date:

Priceline Beats Estimates

Revenue jumps more than 27%.



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.

TheStreet Recommends

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, said it expects to earn $2.60 to $2.90 a share before items. Analysts had forecast earnings of $2.53 a share.