CHICAGO – Online travel company Priceline.com Inc. (PCLN) said Monday its quarterly profit rose on growth in travel bookings.
Priceline said its second-quarter net income was $12.4 million, or 29 cents per share, compared with a profit of 28 cents a share, a year earlier.
Priceline said its operating income for the second quarter was $16.8 million, or 41 cents per share, a gain of 28.1 percent over the same period a year earlier. The company said its results include the operating results of Active Hotels (search), acquired in September 2004, and Travelweb, acquired in May 2004.
On average analysts forecast earnings of 37 cents per share, according to Reuters Research.
"Solid growth in Priceline.com's European operations and the launch of our new U.S. retail hotel service helped drive solid growth in gross travel bookings," said Priceline Chief Executive Jeffrey Boyd.
In after-market trading on the Inet electronic brokerage system, the company's shares rose to $24.83 after closing at $24.33 in regular Nasdaq trading.
Priceline's second quarter revenue rose 2.8 percent to $266.6 million.
Norwalk, Conn.-based Priceline, which made its name with its "name-your-own-price" auction service for plane tickets and hotel rooms, now also sells traditional air fares and other travel services.
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