Aug. 11--NORWALK -- Priceline.com on Monday released financial results for the second quarter of 2009 and reported a 17.5 percent increase in revenues over the second quarter of last year.

The Norwalk-based online travel company reported $603.7 million in second-quarter revenues and $2.38 billion -- a 12.8 percent increase -- in gross travel bookings. It also reported a 20.3 percent increase in gross profits.

"Despite a difficult economic climate, leisure travel demand for the summer peak season has been stronger than expected, driven in part by the availability of compelling discounts," priceline.com President and Chief Executive Officer Jeffery H. Boyd, said. "Priceline.com's second quarter performance reflects the impact of improving demand, but also shows the impact of lower year over year unit prices."

Boyd said that hotel night reservations grew 44 percent with strong performances in the U.S., Europe and Asia. Airline ticket sales, he said, grew 14 percent and rental car activity grew by 15 percent.

"Unemployment and the global economic downturn continue to affect travel spending, particularly high yield business travel, which places considerable strain on travel suppliers," Boyd said. "In the third quarter, we intend to continue to invest in expansion of our international hotel platform, integration initiatives and marketing of our brands."

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