Priceline.com Down 4% on Lower Than Expected Guidance

Priceline.com

is trading lower on the on the session following its Q1 earnings announcement. The company reported an EPS of $4.28 vs $3.95 estimates and revenues of $1.0 billion vs $1.04 billion estimates. Priceline guided Q2 EPS $7.20-7.40 vs $7.38 estimates. Jeffery H. Boyd, President and Chief Executive Officer said "The Priceline Group's hotel business booked 46 million room nights in the 1st quarter, up 47% over last year. International gross bookings increased 54% (58% on a local currency basis), driven by strong hotel results at Booking.com and Agoda.com and continued growth at Rentalcars.com." Priceline.com is currently trading at $689.18, a loss of $29.77 4.14%.