Priceline Q1 Profits Take Off, Fueled by Strong International Growth

Based on strong first-quarter results, Priceline’s stock jumped immediately in after-hours trading today, rising nearly $7 to $540 a share. The travel booking company said revenues increased 38.5 percent to $809.3 million compared to the year-ago period, and that net income nearly doubled to $104.8 million, compared to $53.9 million in first quarter 2010. International results saw tremendous growth, with revenues up 80 percent year over year and gross profits up 58.5 percent. The Norwalk, Conn.-based company’s gross travel bookings, which include all taxes and fees from its travel services, totaled $4.7 billion, an increase of 57.3 percent over a year ago.


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I think the NSA has a job to do and we need the NSA. But as (physicist) Robert Oppenheimer said, “When you see something that is technically sweet, you go ahead and do it and argue about what to do about it only after you’ve had your technical success. That is the way it was with the atomic bomb.”

— Phil Zimmerman, PGP inventor and Silent Circle co-founder, in an interview with Om Malik