Priceline Group Q2 Profit Down; Sees Q3 Adj. EPS In Line With View

(RTTNews) - The Priceline Group Inc. (PCLN) reported that its second-quarter 2015 net income declined to $517.03 million from the prior year's $576.45 million, with earnings per share decreasing to $9.94 from $10.89 in the previous year.

Non-GAAP net income in the quarter was $653 million, a 2% decrease versus the prior year. Non-GAAP net income was $12.45 per share, compared to $12.51 per share a year ago. Analysts polled by Thomson Reuters expected the company to report earnings of $11.98 per share for the quarter. Analysts' estimates typically exclude special items.

But, total revenues for the quarter grew to $2.28 billion from $2.12 billion in the prior year. Wall Street expected revenues of $2.27 billion for the quarter.

Looking ahead for the third-quarter 2015, the Group estimates GAAP net income per share to be between $20.84 and $22.34. Non-GAAP net income per share is expected to be between $22.95 and $24.45. Analysts project third-quarter earnings of $23.32 per share.