Priceline.Com Posts Highest Growth Quarter in over Three Years

Priceline.com Incorporated has reported first-quarter net profit of $18.2 million, or 37 cents per share, compared with a loss of $16.3 million, or 44 cents per share, a year earlier.

Jeffery H. Boyd, priceline.com’s President and Chief Executive Officer said its international business, comprising Booking.com and Agoda.com, achieved $1 billion in gross travel bookings for the quarter, an increase of 100 percent over the prior year (75.0 percent excluding the impact of foreign currency exchange rates).

priceline.com had GAAP revenues in the first quarter of $403.2 million, a 33.8 percent increase over a year ago. Its international operations contributed revenues worth $104.2 million, a 117.5 percent increase versus a year ago.

The online travel company’s GAAP gross profit for the quarter was $181.1 million, a 51.3 percent increase from the prior year. Boyd said domestically, priceline.com had its highest growth quarter in over three years, with gross travel bookings growth of 51 percent.