Priceline Earnings Beat, Guidance Disappoints
Priceline.com reported first-quarter earnings Thursday that topped analysts' expectations on both earnings and revenue.
But its shares fell slightly after the closing bell, as the online travel company issued lighter-than-expected guidance for the second quarter.
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Excluding items, earnings per share rose to $5.76 from $4.28 a year earlier. Revenue improved 25 percent to $1.3 billion from $1.04 billion million.
Analysts had looked for Priceline to report earnings excluding items of $5.27 a share on $1.28 billion in revenue, according to a consensus estimate from Thomson Reuters.
The company said it expects second-quarter earnings per diluted share to be between $8.87 and $9.45. That disappointed analysts, who had been forecasting $9.58 a share.
Priceline called for both travel bookings and gross profit to rise in the second quarter, with the former up between 30 percent and 37 percent, and that latter up between 26 percent and 33 percent.