Priceline Releases Fourth Quarter, Annual Earnings Report
The Priceline Group has released its financial results for the fourth quarter of 2011, as well as for the whole year. In addition to Priceline.com, the Priceline Group consists of Booking.com, Agoda.com, and RentalCars.com.
The Priceline Group as a whole took in $991 million in revenue in the fourth quarter of 2011, an increase of 35.5% over the fourth quarter of 2010. Gross profit, meanwhile, hit $609 million, an increase of 62.9%. For the year, the Priceline Group generated $4.36 bilion in revenue, up 41.2% over 2010. Gross profit came to $3.08 billion, which is 61.3% higher than 2010.
All in all, 2011 was a great year for the Priceline Group. The report cautions, though, that the group expects some decline in growth rates during the coming quarters, because of the size of the business, and because of current economic conditions in Europe that have negatively impacted Priceline’s users. Southern Europe in particular has seen slowed growth and an increase in cancellation rates.
For more information, check out a PDF of the entire earnings report here. Meanwhile, Priceline.com recently “killed off” their long-running celebrity spokesman, William Shatner. Check out the final appearance of “The Negotiator” below.