Priceline Posts Beat-And-Raise Q1; Shares Sag Anyway
Priceline (PCLN) this morning posted better-than-expected Q1 results, and provided stronger-than-expected guidance for the second quarter.
For Q1, the online travel agency posted revenue of $462.1 million and non-GAAP EPS of $1.09 a share; the Street had been expecting $440.8 million and 91 cents. Revenues were up 14.6 percent year over year. Bookings were $1.9 billion, up 10.5 percent versus a year ago.