S P 500 ( NYSE:SPY ) component priceline.com Incorporated ( NASDAQ:PCLN ace car rental fort myer ) reported its results for the third quarter. Priceline.com is an online travel company that offers travel services, including hotel rooms, airline tickets, vacation packages, car rentals, cruises, and destination services.
Results: Net income for priceline.com Incorporated rose to $596.6 million ($11.66 per share) vs. $469.5 million ($9.17 per share) in the same quarter a year earlier. This marks a rise of 27.1% from the year-earlier quarter.
ace car rental fort myer Quoting Management: The Priceline Group delivered solid growth and operating results in the three rd quarter as growth in the second half of the quarter in our key European market ace car rental fort myer exceeded our forecast. Globally our hotel business grew room nights by 36% over the same period last year, compared to 39% growth in the second quarter. Our rental car business grew rental car days by 35% over last year, an acceleration from 29% in the second quarter, led by improving results at priceline.com and continued strong growth from rentalcars.com, said Jeffery H. Boyd, President and Chief Executive Officer of The Priceline Group.
The company has seen double-digit year-over-year percentage revenue growth for the past five quarters. Over that span, the company has averaged growth of 29.2%, with the biggest boost coming in the third quarter of the last fiscal year when revenue rose 45% from the year earlier quarter.
The company has now surpassed analyst estimates for four quarters in a row. It beat the mark by 50 cents in the second quarter, by 35 cents in the first quarter, and by 12 cents in the fourth quarter of the last fiscal year.
Looking Forward: Analysts appear increasingly negative about the company s results for the next quarter. The average ace car rental fort myer estimate for the fourth quarter has moved down from $6.52 a share to $5.96 over the last ninety days. The average estimate for the fiscal year is $28.85 per share, down from $29.81 ace car rental fort myer ninety days ago.
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