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Priceline's Mixed Bag Earnings Appease Investors celine phantom bag
The online travel industry still seems to be in excellent shape. Last week, TripAdvisor made waves with an impressive revenue beat, sending competitors higher on the day as investor sentiment warmed to the industry. Now, Priceline (NASDAQ:PCLN) has come out with its Q4 and full year results, and they too came in ahead of expectations. However, celine trapeze the report wasn't all good, as a lukewarm outlook for the coming quarter dampened the enthusiasm somewhat. What can we expect from Priceline going forward?
Bookings strengthOverall, Priceline capped off the fiscal year in style. Adjusted earnings came in at $10.85 to blow away a $10.10 analyst consensus and representing an increase of some 23% yearoveryear. Revenue growth was also strong, rising 19% to $1.85 to beat a $1.80 consensus. This solid growth was driven by a 17% increase in bookings, reaching $10.7 billion for the period. Excluding currency effects, revenue rose by an impressive 23%.
Internationally, the company managed to perform well despite continued headwinds. In the words of CEO Darren Huston, "International gross bookings growth of 27% on a local currency basis in the 4th quarter demonstrates the resilience of the business, despite an environment of economic uncertainty and foreign exchange volatility."
Europe seems to celine micro luggage be doing particularly well, which is comforting given earlier comments by the company that it may be facing a slowdown in the area. As some 90% of the company's revenue comes from overseas, the fact that it is keeping top and bottom line growth stable despite violent currency volatility is a testament to the strength of the underlying business.
The full year figures were no less impressive. Gross travel bookings rose by 28% to $50.3 billion, or by 30% on celine mini tie a currencyneutral basis. NonGAAP net income rose 29%, as did adjusted EBITDA, while GAAP gross profit rose 33% to $7.6 billion. Investors cheered the numbers, sending the stock up 9%.
Looking aheadSo what can we expect from Priceline as we go into fiscal 2015? So far, guidance has been conservative. At the moment, the world's largest online travel company by bookings is projecting Q1 EPS in the range of $7.20 to $7.75, well below a $8.52 consensus. Revenue guidance also came in a http://www.celinehandbagse.com/ little light at up to $1.82 billion, also shy of a $1.86 billion consensus estimate. However, it is important to note that the company generally exceeds its own and analyst projections by a wide margin.
Still, gross bookings are expected to rise by between 17% and 24%, which may signal an acceleration. Moreover, the recent acquisition of Rocketmiles, an app that let's one build up frequent flier miles through booking rooms, shows that the celine trio bag for sale company is realizing it needs to step up its M game in order to remain competitive with companies like Expedia (NASDAQ:EXPE), which just purchased Orbitz for roughly $1.6 billion. Management seemed nonplussed about the deal, saying that it would lead to a more consolidated, clear view of competition in the industry.
Priceline has not shied away from acquisitions beyond its own backyard industry of hotel, car and flight bookings, indicating a confident outlook on growth. For instance, in June last year the company bought OpenTable for some $2.6 billion. The restaurant reservation platform was described as perfect match for Priceline, as an extension into restaurant booking was seen as a natural move for the travel giant. celine mini belt tote bag It gives Priceline access to some 15 million customers a month across over 31,000 restaurants listed.
The company's current valuation also leaves some room for upside. It's not outrageously expensive at 27.5 times trailing earnings and 20.6 times forward earnings. Moreover, the PEG ratio of 1.12 is low. The firm's balance sheet also looks excellent, with around $3.9 billion in debt and more than $6.2 billion in cash on the books, a sizable war chest for further international acquisitions and expansion. celine mini bag

ConclusionOverall, Priceline delivered a great quarter and full year report, with the top and bottom line growing by healthy double digits. Going forward, things celine cabas look good as well. Meanwhile, with a number of recent acquisitions in the travel space and beyond, the company has displayed it is committed to growth across a wide range of channels. Priceline looks like a good bet for 2015 despite tepid guidance.