NEW YORK (TheStreet) -- Shares of Orbitz Worldwide Inc. (OWW) are down by 6.60% to $7.92 on heavy volume in early afternoon trading on Thursday, after the company reported a decline in net income for the 2014 third quarter to $9 million, or 8 cents per diluted share, compared to $12.9 million, or 11 cents per diluted share for the same quarter last year.
The global online travel company said revenue for the latest quarter grew by 15% to $253.1 million, from $220.9 million for the 2013 third quarter.
Analysts were expecting Orbitz to post earnings of 14 cents per share, on revenue of $252.9 million.
Watch the video below for tips on the best time to buy airline tickets:
Separately, TheStreet Ratings team rates ORBITZ WORLDWIDE INC as a Hold with a ratings score of C-. TheStreet Ratings Team has this to say about their recommendation:
"We rate ORBITZ WORLDWIDE INC (OWW) a HOLD. The primary factors that have impacted our rating are mixed some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity and compelling growth in net income. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself and generally higher debt management risk."