U.S. online travel company Priceline.com on Wednesday said its quarterly net profit fell, but shares rose as the company's earnings excluding special items topped expectations.

Priceline said its third-quarter profit amounted to $47.8 million, or $1.05 per share, compared with a net profit of $170.6 million, or $3.71 cents per share, a year earlier.

Travel bookings for the quarter rose 47.8 percent to $903.2 million. Priceline said its third-quarter revenue was $313.5 million, up 21.1 percent from a year earlier.

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