Priceline.com was no shock to Trending123.com subscribers or anyone reading this blog!!
Shares of Priceline.com (PCLN) have spiked nearly 15% in premarket trading after the company reported a 130% jump in earnings per share over one year ago. If premarket gains hold, the stock will establish a fresh 52-week high.
Priceline reported first quarter earnings of $0.76 per share, which was $0.16 better than the consensus estimate that stood at $0.60. Revenue rose 41.2% year-over-year to $403.20 million versus the $377.17 million consensus estimate.
The company also topped its previous guidance. First quarter gross travel bookings increased 76% compared to last year, versus the company's guidance of 60% to 65%. Pro forma gross profit increased 74.7% year-over-year versus the company's guidance of 55% to 60%.
The online travel company expects to continue its winning ways. Priceline said it expects to earn between $5.25 and $5.65 per share for the full year, which is well ahead of the $5.12 consensus estimate.
It broke out of an Ascending Triangle mentioned back on this update back on April 18th so the question to ask yourself why aren't you seeing what I am seeing or are you?
Hi John
Thanks much for the options portfolio addition. It has done well for me and I appreciate having it since I don't have a great deal of money to invest in the market.
Rusty
