Shares of the online travel booker took a trip north Tuesday, closing the day up $4.87, or 10.6%, at $50.80.

The Norwalk, Conn.-based company announced Monday night that fourth-quarter net income grew to $13.2 million, or 33 cents per share, from $3.8 million, or 9 cents per share, last year.

The company's earnings also beat estimates. Pro-forma net income was 58 cents per share while analysts polled by Thomson Financial expected 40 cents per share.

The strong quarter was heavily driven by, Priceline's European business. The site's travel bookings increased of 101% from the previous year to $319.1 million.

"During the quarter, successfully maintained high growth rates in continental Europe, enhanced the brand's ability to market on a pan-European basis, and continued to grow its business between Europe and the United States," said chief executive Jeffery Boyd in a statement.

Get the full story at Forbes