Priceline.com Incorporated (PCLN) Stock up $50

Shares of Priceline.com Incorporated (PCLN) are surging today after the company reported better than expected earnings last night. Priceline.com is trading at $282 Up $51 on the day.

Priceline.com reached a new 52 week high located at $283.86 and is up over $100 in the past month! Looking at the chart, support is located around $275.

Priceline.com Reports Financial Results for 2nd Quarter 2010

Priceline.com Incorporated (Nasdaq: PCLN) today reported its financial results for the 2nd quarter 2010. Gross travel bookings for the 2nd quarter, which refers to the total dollar value, generally inclusive of all taxes and fees, of all travel services purchased by consumers, were $3.4 billion, an increase of 43.3% over a year ago.

Priceline.com had revenues in the 2nd quarter of $767.4 million, a 27.1% increase over a year ago. The Company's international operations contributed revenues in the 2nd quarter of $322.6 million, a 63.3% increase versus a year ago (approximately 68% on a local currency basis). Priceline.com's gross profit for the 2nd quarter was $445.3 million, a 45.9% increase from the prior year. The Company's international operations contributed gross profit in the 2nd quarter of $321.8 million, a 63.6% increase versus a year ago (approximately 68% growth on a local currency basis). The Company's operating income in the 2nd quarter 2010 was $173.2 million, a 58.3% increase from the prior year. Priceline.com had GAAP net income for the 2nd quarter of $115.0 million or $2.26 per diluted share, which compares to $67.0 million or $1.38 per diluted share in the same period a year ago.

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