Orbitz Worldwide Posts Mixed Results (OWW)

Orbitz Worldwide, Inc.

announced on Thursday morning that it beat consensus Wall Street earnings estimates, while failing to meet revenue expectations. Orbitz Worldwide, Inc reported that its 2nd quarter net income fell 5% to $9.7 million, or 9 cents per share, down from $10.3 million, or 12 cents per share, a year earlier. The company's revenue rose 3% to $193.5 million, up from $188 million a year earlier. According to a survey of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of 5 cents per share, on revenue of $198.16 million. The company forecast 3rd quarter revenue growth in the range of 3% to 6% over the previous year's 3rd quarter. President & chief executive officer Barney Harford said, "Orbitz Worldwide's second quarter results significantly exceeded our Adjusted EBITDA expectations, increasing 7 percent year over year, to $48.1 million. We posted solid year over year improvements in gross bookings, transactions, and hotel room nights. ebookers continued its strong performance with hotel room night growth of 58 percent. Both Orbitz for Business and our private label business also posted strong growth in transactions and hotel room nights." Orbitz Worldwide, Inc. (

) closed the previous trading session at $5.14 per share. Analysts covering the company's stock give it a consensus price target of $7.07 per share. Read more

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