Priceline Q4 Results Beats View; To Buy Back Addl. $3 Bln Stock - Quick Facts

(RTTNews) - Online travel agency Priceline Group Inc. (PCLN) reported that its fourth-quarter net income applicable to common stockholders increased to $451.83 million or $8.56 per share from $378.08 million or $7.14 per share in the year-ago period.

Adjusted net income for the quarter was $10.85 per share, compared to $8.85 per share in the same period last year.

On average, 22 analysts polled by Thomson Reuters expected the company to report earnings of $10.10 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenues for the quarter rose to $1.84 billion from $1.54 billion in the year-ago period. Analysts expected revenue of $1.80 billion for the quarter.

Looking ahead to the first quarter, Priceline Group forecasts reported net income in a range of $5.25 to $5.80 per share and adjusted net income between $7.20 and $7.75 per share. The company expects year-over-year increase in revenue of about 4 percent to 11 percent.

Street expects the company to earn $8.52 per share for the quarter on 13.5 percent increase in revenue to $1.86 billion.

Priceline also said that its board has given the company an additional authorization to repurchase up to $3 billion of its common stock.