Yet again, Priceline (NASDAQ:PCLN) continues to find ways to keep up the growth momentum. In the fourth quarter, the company posted a 35% jump in sales to $990.8 million. The Street was looking for $973.3 million. Profits came to $5.37 a share, easiliy beating the consensus of $5.06 per share.
All in all, investors certainly like the results as the stock price is up 7%, to $635, in today’s trading. And this kind of performance has been fairly normal. Consider that over the past decade, Priceline’s annual average return is a stunning 36%!
How has Priceline been able to thrive and beat rivals like Expedia (NASDAQ:EXPE) and Orbitz (NYSE:OWW)? For the most part, the company has been aggressive with acquisitions to bolster its business in emerging markets. It’s already has operations in 160 countries.
But Priceline has also been able to evolve. In fact, the company recently nixed its spokesperson deal with William Shatner (his character was the “Negotiator”) because Priceline wants to move away from its name-your-price business model.