This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Priceline Lower on Mixed Earnings, Guidance

NEW YORK ( TheStreet) -- Shares of (PCLN - Get Report) fell in late trades Wednesday after the online travel reservation company offered up a mixed earnings report and below-consensus guidance.

Despite fears of a slowdown in Europe, the Norwalk, Conn.-based company posted first-quarter non-GAAP earnings of $221 million, or $4.28 a share, on revenue of $1.037 billion in revenue, up 28.2% year-over-year.

The average estimate of analysts polled by Thomson Reuters was for earnings of $3.95 a share in the March-ended quarter on revenue of $1.043 billion.

Priceline CEO Jeffrey Boyd expects strength in Priceline's international business to continue to help growth as the travel season picks up.

"We believe our international hotel businesses are well positioned for the peak travel season, with over 210,000 hotels at and continuing website innovation and new product offerings, including a growing complement of mobile offerings," Boyd said in a statement. "The Group continues its investment in building content for our customers and attractive new offerings to support future growth."

Boyd also highlighted the hotel business, which booked 46 million room nights in the first quarter, up 47% year-over-year.

For the second quarter ending in June, the company forecast non-GAAP earnings of $7.20 to $7.40 a share, surrounding Wall Street's current consensus view for a profit of $7.37 a share.

Priceline sees revenue rising between 18-23% year-over-year in the second quarter with total gross travel bookings increasing 26-31% from last year.

The stock closed Wednesday's regular session at $718.95, up $2.75. In the extended session, the shares were last quoted at $705.82, down 1.8%, on volume of more than 450,000, according to

Year-to-date, Priceline shares were up more than 50% before the after-hours pullback.

Interested in more on Priceline? See TheStreet Ratings' report card for this stock.

Check out our new tech blog, Tech Trends. Follow TheStreet Tech on your wireless devices.

-- Written by Chris Ciaccia in New York

>Contact by Email.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
PCLN $1,354.64 0.00%
AAPL $95.18 0.00%
FB $117.43 0.00%
GOOG $692.36 0.00%
TSLA $232.32 0.00%


Chart of I:DJI
DOW 17,750.91 -140.25 -0.78%
S&P 500 2,063.37 -18.06 -0.87%
NASDAQ 4,763.2240 -54.37 -1.13%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs