Priceline Group Q1 Profit Increases - Quick Facts

(RTTNews) - Priceline Group Inc. (PCLN) reported that its net income applicable to common shareholders for the first-quarter increased to $333 million or $6.36 per share, from $331 million or $6.25 per share, in the same period a year ago.

First quarter gross travel bookings for The Priceline Group , which refers to the total dollar value, generally inclusive of all taxes and fees, of all travel services purchased by its customers, were $13.8 billion, an increase of 12% over a year ago (approximately 26% on a constant currency basis).

Non-GAAP net income in the quarter was $429 million, a 3% increase versus the prior year. Non-GAAP net income was $8.12 per share, compared to $7.81 per share a year ago. Analysts polled by Thomson Reuters expected the company to report earnings of $7.72 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenues for the quarter grew to $1.84 billion from $1.64 billion in the prior year. Wall Street analysts had a consensus revenue estimate of $1.80 billion for the quarter.

The non-GAAP adjustments are expected to increase adjusted EBITDA over GAAP net income by approximately $260 million in the secondd quarter 2015. In addition, the non-GAAP adjustments are expected to increase non-GAAP net income over GAAP net income by approximately $115 million in the second-quarter 2015.

The Group estimates GAAP net income per share to be between $8.85 and $9.65 for the second-quarter 2015. Non-GAAP net income per share is expected to be between $10.95 and $11.75 for the second-quarter 2015. Analysts expect earnings of $13.10 per share for the second-quarter.