Summary
This 8-K filing by priceline.com Incorporated (now Booking Holdings Inc.) reports its financial results for the second quarter ended June 30, 2005. The company announced total revenue of $266.6 million, with $12 million coming from international operations. Gross travel bookings reached $569.5 million, with $77.5 million from international sources, largely driven by Active Hotels. The company highlighted that its strategic shift from television advertising to online advertising helped achieve pro forma net income per share results at the high end of its guidance, despite a slight shortfall in gross profit.
Key Highlights
- 1Reported Q2 2005 revenue of $266.6 million, with $12 million from international operations.
- 2Gross travel bookings for Q2 2005 were $569.5 million, with $77.5 million from international operations, primarily via Active Hotels.
- 3Adjusted 'organic' gross travel bookings would have grown ~9% year-over-year in Q2 2005, reflecting acquisitions of Active Hotels and Travelweb.
- 4International 'organic' gross travel bookings showed substantial growth of approximately 65% year-over-year.
- 5Domestic 'organic' gross travel bookings increased approximately 3.4% year-over-year, excluding specific hotel room sales via Orbitz.
- 6Strategic shift from TV advertising to online advertising contributed to achieving upper-end pro forma EPS guidance.
- 7Provided Q3 2005 expense guidance, with a significant portion of advertising spend allocated online (~65% of $25 million).