Priceline Group Inc (NASDAQ:PCLN) — now known as Booking Holdings — released its latest quarterly earnings results after hours today.
The company’s results came in ahead of Wall Street’s expectations as Priceline Group posted a net loss of $555 million for the period, amounting to roughly $11.41 per share. The figure was well below the $674 million, or $13.47 per share that the company earned in the year-ago period.
On an adjusted basis, the company earned $836 million, tallying up to $16.86 per share, coming in ahead of the year-ago total of $711 million, or $14.21 per share. Revenue was better, rising from $2.3 billion to $2.8 billion in the fourth quarter of fiscal 2018.
Analysts were calling for adjusted earnings of $14.12 per share, while revenue was slated to come in at $2.7 billion, according to data compiled by FactSet. The decision to change the name from Priceline Group to Booking Holdings came earlier in February as the company believes the new name will go a long way in better reflecting the company’s business.
PCLN stock was trading flat after the bell Tuesday.