Priceline’s results soar, thanks to Booking.com and Agoda
May 12, 2008 | Online Travel
Priceline on Thursday blew away first-quarter views and raised its outlook on soaring European bookings and a hefty boost from U.S. consumers hunting for travel bargains.
Priceline said sales surged 34% to $403.2 million. Analysts were expecting $377.2 million. Revenue rose 41% excluding a one-time, $16-million airline excise tax refund in the year-earlier quarter.
Gross bookings, the dollar value of all travel services bought in the quarter, jumped 76% to $1.76 billion. International bookings soared 100% to $1 billion, while domestic bookings rose 51% to $721 million, its biggest jump in more than three years.
International bookings include $24.6 million from Agoda, a discount hotel booking site in Asia that Priceline bought in November and for which it has high hopes.
Get the full story at Investors Business Daily
Read also “Priceline.com: Cheap Travel, Pricey Stock” at The Washington Post
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