Summary
This Form 8-K/A filing from Priceline.com Incorporated (now Booking Holdings Inc.) serves as an amendment to a previous report, primarily to attach omitted exhibits related to their second-quarter 2005 financial results. The company announced second-quarter revenue of $266.6 million, with international operations contributing approximately $12 million. Gross travel bookings reached $569.5 million, with $77.5 million from international sources, largely driven by Active Hotels. Investors should note the company's strategic shift in advertising spend from television to online, which contributed to achieving the higher end of their pro forma net income per share guidance despite a slight shortfall in gross profit. The filing also provides a forward-looking outlook for third-quarter 2005 expenses, including advertising, sales and marketing, personnel, general and administrative, IT, and depreciation and amortization.
Key Highlights
- 1Amendment No. 1 to Form 8-K filed to include inadvertently omitted exhibits from the original press release announcing Q2 2005 results.
- 2Priceline.com reported Q2 2005 revenue of $266.6 million, with $12 million from international operations.
- 3Gross travel bookings for Q2 2005 were $569.5 million, of which $77.5 million came from international operations, primarily driven by Active Hotels.
- 4Organic gross travel bookings increased approximately 9% year-over-year in Q2 2005, adjusting for acquisitions and the Orbitz agreement.
- 5International organic gross travel bookings showed significant growth, increasing approximately 65% year-over-year.
- 6The company shifted advertising spend from TV to online, contributing to hitting the high end of Q2 2005 pro forma EPS guidance.
- 7Forward-looking expense guidance for Q3 2005 was provided across several categories, including significant online advertising spend.