A year ago, the shares of Priceline.com (PCLN) were trading below $70 per share. Since then, the stock appreciation has been stunning, reaching $230 in Thursday's trading.

Of course, the reason is that Priceline.com continues to grow at a torrid pace. In the latest quarterly report, revenues spiked 33% to $541.8 million and profits were up by 54% to $1.99 per share. The consensus estimate was for $1.68 per share.

Continue reading Priceline.com Still Flying High

Priceline.com Still Flying High originally appeared on BloggingStocks on Thu, 18 Feb 2010 12:30:00 EST. Please see our terms for use of feeds.

In this day of record-high fuel costs and erratic airline fares, it's important to have a reliable travel agent. For some, it's the online wonder of Priceline.com (NASDAQ: PCLN), which offers traditional online-travel aids as well as a name-your-own-price service. Which, by the way, never works for me. I guess no one wants to accept $150 for a weekend trip from St. Louis to Seattle.

Anyway, Priceline has benefited from the nation's needy travelers, as evidenced by its third-quarter profit figures, released after the close on Thursday. The firm said third-quarter net income reached $104.4 million, or $2.27 per share, up dramatically from year-ago results of $47.8 million, or $1.05 per share. Excluding items, PCLN banked $1.58 per share, 30 cents above the $1.28 expected on Wall Street.

Revenue rose 33% during the 3-month reporting period to $417.3 million. This was 7.7% higher than analysts' consensus target of $387.5 million.

PCLN officials credited the building profit to success at the Booking.com site (the firm's European brand), as well as domestic growth. In after-hours action, PCLN is showing a gain of 12.85 points, or more than 15%. A move of this magnitude in regular trading on Friday would lift the stock to a new 52-week high and put it a chip-shot away from the psychologically important 100 level.

Beth Gaston Moon is an analyst at Schaeffer's Investment Research.

Priceline.com (PCLN) earnings soar; stock spikes in after-hours trading originally appeared on BloggingStocks on Thu, 08 Nov 2007 18:56:00 EST. Please see our terms for use of feeds.