Priceline Group Inc (NASDAQ:PCLN) Shares Down Despite Growth in 3rd Quarter

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By Erik Waters on November 5, 2014 Company, Economy

Priceline Group Inc (NASDAQ:PCLN) made its sheets public for the company’s third quarter earnings, showing immense progress as compared to last quarter’s results. Earnings per share came in riveted at 22.16 dollars per share while revenue stood at 2.84 billion dollars. The market consensus estimate was 21.11 dollars EPS and 2.83 billion dollars revenue. 17.13 dollars EPS and 2.27 billion dollars revenue was what the company scored last year in the same quarter. These number shows vivid growth on both ends (profit and revenue).

Priceline Group Inc (NASDAQ:PCLN) also laid out its guidance for the next quarter, stating 9.40 to 10.10 dollars per share. The company also expects a growth of 11 to 18 percent as far as revenue is concerned. The estimates for the next quarter came out at 10.91 dollars EPS and 1.91 billion dollars revenue. Priceline Group Inc (NASDAQ:PCLN)’s revenue for the third quarter (1.2 billion dollars) was 29 percent ahead than what it made last year in the same quarter.

When it comes to bookings, they are expected to slow down by the next quarter. Priceline Group Inc (NASDAQ:PCLN) expects books will increase by 15 percent or recede 28 percent what it posted this quarter. The international bookings are also expected to slow down, dwindling down to 10 to 16 percent; in the third quarter it was 32 percent. Travel bookings in the third quarter, including taxes and fees, made up to 13.8 billion dollars; an increase of 28 percent as compared to a year ago.

The company’s CEO exclaimed that Priceline Group Inc (NASDAQ:PCLN) finished the summer travel season leading the market with robust numbers and formidable performance. The company’s global accommodation business has increased by 27 percent over the period of one year. Bookings.com is still ahead when it comes to booking accommodations. The company’s rental car business also showed some promise, growing by 18 percent over the past year, which was a 14 percent boost in the second quarter.

The company’s performance, especially in Europe is commendable. Priceline Group Inc (NASDAQ:PCLN) has found a place for itself in the competitive market. In the Tuesday’s premarket, the share price turnout for Priceline Group Inc (NASDAQ:PCLN) came out negative, down by 6.5 percent at 1,120.00 dollars. The consensus target was 1,483.40. Considering how well the company is faring overall, especially in Europe, it won’t be long since their share price shoots up once again.

Priceline Group Inc (NASDAQ:PCLN) has made a reputation for itself and it’s considered to be one of the best companies when it comes to providing convenient bookings and deals. As time goes by, and if the numbers keep coming in strong, Priceline Group Inc (NASDAQ:PCLN) will become a sure-shot stock for investors and a healthy bet for the current shareholders. Priceline Group Inc (NASDAQ:PCLN) just has to continue with these numbers; in fact improve them so the company’s chances grow stronger. With the holiday season coming up, Priceline will be presented with prospects to cover up whatever it’s short of.