Priceline.com Inc. (NASDAQ: PCLN) has just reported earnings. The online travel bidding service posted $1.55 non-GAAP EPS on $514 million in revenues. First Call had estimates of $1.41 EPS on $495.7 million in revenues. Unfortunately, the earnings today are not the only issue traders are focusing on.
The company sees Q3 at $1.50 to $1.60 EPS net and pro form, EPS at$2.00 to $2.15 EPS; First Call has pro forma estimates of $2.05 EPS.
It guided 2008 non-GAAP EPS to a range of $5.50 to $5.85 with grossbookings at $7.55 to $7.9 Billion. First Call has estimates pegged at$5.54 EPS on $1.88 Billion in revenues.
Shares are trading as though a high-speed flame-out has been seen on aplane engine. This closed up almost 5% at $117.20, but shares are downa sharp 15% at $98.75 in after-hours trading.
Jon C. Ogg
August 5, 2008
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