Priceline beats by $1.11, beats on revs; guides Q4 below consensus :
- Reports Q3 (Sep) earnings of $25.35 per share, $1.11 better than the Capital IQ Consensus of $24.24; revenues rose 9.4% year/year to $3.1 bln vs the $3.06 bln Capital IQ Consensus.
- Gross travel bookings for The Priceline Group, which refers to the total dollar value, generally inclusive of all taxes and fees, of all travel services purchased by its customers, were $14.8 billion, an increase of 7% over a year ago (~22% on a constant currency basis).
- Co issues downside guidance for Q4, sees EPS of $11.10-11.90, excluding non-recurring items, vs. $12.39 Capital IQ Consensus; sees Q4 revs +1-8% to ~$1.86-1.99 bln vs. $2.05 bln Capital IQ Consensus Estimate.
- Year-over-year increase in total gross travel bookings of ~1% - 8% (an increase of ~13% - 20% on a constant currency basis).
- Year-over-year increase in international gross travel bookings of ~3% - 10% (an increase of ~17% - 24% on a constant currency basis).
- U.S. gross travel bookings are expected to decrease by 5% - 10% as compared to 4th quarter 2014.
- Peer: EXPE.
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