NORWALK, Conn. (AP) _ The Priceline Group Inc. (PCLN) on Tuesday reported second-quarter earnings of $720.2 million.
The Norwalk, Connecticut-based company said it had profit of $14.39 per share. Earnings, adjusted for one-time gains and costs, came to $15.14 per share.
The results exceeded Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $14.25 per share.
The online booking service posted revenue of $3.02 billion in the period, which also topped Street forecasts. Seven analysts surveyed by Zacks expected $3 billion.
For the current quarter ending in October, Priceline expects its per-share earnings to range from $32.40 to $34.10. Analysts surveyed by Zacks had forecast adjusted earnings per share of $34.42.
Priceline shares have climbed 40 percent since the beginning of the year, while the Standard & Poor's 500 index has risen 10 percent. In the final minutes of trading on Tuesday, shares hit $2,045.50, a rise of 46 percent in the last 12 months.
Keywords: Priceline, Earnings Report