Priceline tops 4Q net income and revenue expectations

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NORWALK, Connecticut — The Priceline Group Inc. (PCLN) on Thursday reported fourth-quarter earnings of $451.8 million.

On a per-share basis, the Norwalk, Connecticut-based company said it had net income of $8.56. Earnings, adjusted for one-time gains and costs, were $10.85 per share.

The results topped Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of $10.05 per share.

The online booking service posted revenue of $1.84 billion in the period, also exceeding Street forecasts. Analysts expected $1.8 billion, according to Zacks.

For the year, the company reported profit of $2.42 billion, or $45.67 per share. Revenue was reported as $8.44 billion.

For the current quarter ending in March, Priceline expects its per-share earnings to range from $7.20 to $7.75. Analysts surveyed by Zacks had forecast adjusted earnings per share of $10.79.

Priceline shares have fallen 2 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 2 percent. The stock has dropped 13 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PCLN at http://www.zacks.com/ap/PCLN

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Keywords: Priceline, Earnings Report

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