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Feedback
Priceline sees disappointing third-quarter revenues
NORWALK, Conn., Sept 27 (Reuters) - Priceline.com Inc. <PCLN.O>, the Internet service that matches buyers and sellers of everything from airline tickets to cars, said on Wednesday its third-quarter revenues would fall short of Wall Street forecasts.
The company said it expects revenues of $340 million to $345 million. Analysts have forecast $360 million to $380 million, Priceline said in a statement.
The company blamed slumping sales of airline tickets for the shortfall. It said revenues from ticket sales would be down $20 million to $25 million in the third quarter from the second quarter. It said non-airline revenues would be up about 20 percent. Priceline said it expects its net loss in the third quarter -- before option payroll taxes, non-cash supplier warrant charges and non-cash dividends on preferred stock -- would be "essentially flat" with the second quarter, when it lost 1 cent a share.
Analysts on average have forecast revenues of $379.8 million and a loss of 1 cent per share in the third quarter, according to the research firm First Call/Thomson Financial.
((--Ian Simpson, Wall Street desk, (212) 859-1879))
REUTERS
NORWALK, Conn., Sept 27 (Reuters) - Priceline.com Inc. <PCLN.O>, the Internet service that matches buyers and sellers of everything from airline tickets to cars, said on Wednesday its third-quarter revenues would fall short of Wall Street forecasts.
The company said it expects revenues of $340 million to $345 million. Analysts have forecast $360 million to $380 million, Priceline said in a statement.
The company blamed slumping sales of airline tickets for the shortfall. It said revenues from ticket sales would be down $20 million to $25 million in the third quarter from the second quarter. It said non-airline revenues would be up about 20 percent. Priceline said it expects its net loss in the third quarter -- before option payroll taxes, non-cash supplier warrant charges and non-cash dividends on preferred stock -- would be "essentially flat" with the second quarter, when it lost 1 cent a share.
Analysts on average have forecast revenues of $379.8 million and a loss of 1 cent per share in the third quarter, according to the research firm First Call/Thomson Financial.
((--Ian Simpson, Wall Street desk, (212) 859-1879))
REUTERS
Na Prima,
the Show must go on.
the Show must go on.
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