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Priceline tops Street 4Q forecasts

NORWALK, Conn. (AP) _ The Priceline Group Inc. (PCLN) on Monday reported fourth-quarter profit of $673.9 million.

The Norwalk, Connecticut-based company said it had profit of $13.47 per share. Earnings, adjusted for amortization costs and non-recurring costs, were $14.21 per share.

The results beat Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $13.06 per share.

The online booking service posted revenue of $2.35 billion in the period, which also beat Street forecasts. Eight analysts surveyed by Zacks expected $2.33 billion.

For the year, the company reported profit of $2.13 billion, or $42.65 per share. Revenue was reported as $10.74 billion.

For the current quarter ending in April, Priceline expects its per-share earnings to range from $8.25 to $8.65. Analysts surveyed by Zacks had forecast adjusted earnings per share of $10.72.

Priceline shares have increased 11 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed nearly 6 percent. In the final minutes of trading on Monday, shares hit $1,632.01, a climb of 29 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PCLN at https://www.zacks.com/ap/PCLN

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Keywords: Priceline, Earnings Report