Priceline Group Inc. (NASDAQ: PCLN) reported its first-quarter financial results before the markets opened on Wednesday. This company has been the center of attention of late, following a sex scandal between former CEO Darren Huston and an employee. This earnings report took the heat off a little, but questions remain about management and the overall direction of this company.

24/7 Wall St. has included some highlights from the earnings report, as well as what some analysts said afterward.

The company said it had $10.54 in earnings per share (EPS) on $2.15 billion in revenue. That compares to consensus estimates from Thomson Reuters of $9.66 in EPS on revenue of $2.12 billion. In the same period of last year, the company posted EPS of $8.12 and $1.84 billion in revenue.

In the second quarter, the company expects room nights booked to increase by roughly 15% to 22% year over year, as well as total gross travel bookings to increase by 11% to 18%.

Priceline also expects to have EPS in the range of $11.60 to $12.50 and revenue to increase by 7% to 14% in the second quarter. The consensus estimates call for $14.98 in EPS on $2.65 billion in revenue.

As for its business segments, Priceline reported:

• Agency revenues totaled $1.50 billion.
• Merchant revenues totaled $470.0 million.
• Advertising and other revenues totaled $178.1 million.

Jeffery H. Boyd, chairman and interim CEO of Priceline, commented:

The Priceline Group delivered strong top line growth and attractive margins in the first quarter. Growth in room night reservations of 31% reflects continued solid execution in the market for global travel. … The Group is looking forward to continued investments in product, service and branding that will drive long-term growth for our leading brands.

A few analysts decided to weigh in on Priceline following the earnings report:

• Benchmark has a Buy rating but lowered its price target to $1,440 from $1,525.
• Oppenheimer reiterated an Outperform rating.
• JPMorgan reiterated an Overweight rating.
• Goldman Sachs reiterated a Neutral rating.
• Morgan Stanley reiterated an Equal Weight rating.
• Jefferies reiterated a Buy rating.
• Cantor Fitzgerald reiterated a Buy rating.
• JMP Securities reiterated a Market Outperform rating.
• Credit Suisse has an Outperform rating but lowered its price target to $1,580 from $1,600.
• Piper Jaffray reiterated a Buy rating.
• RBC Capital reiterated a Buy rating with a $1,700 price target.

Shares of Priceline were trading at $1,251.02 on Thursday, with a consensus analyst price target of $1475.04 and a 52-week trading range of $954.02 to $1476.52.

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