OpenTable Falls 16% After Earnings

Shares of OpenTable OPEN are under pressure on Wednesday after the company released its fiscal first-quarter earnings results. The company also provided revenue guidance for the second-quarter and full-year 2012 which was below Wall Street consensus estimates. At last check, OPEN shares had lost more than 16% and were trading at $36.60. The company reported net income of $4.82 million or $0.21 per share, compared to $4.19 million or $0.17 per share, in the year ago period. On an adjusted basis, which is comparable to analysts' consensus, OPEN reported net income of $9.17 million or $0.40 per share, versus $6.77 million or $0.28 per share, in last year's corresponding quarter. This compared to Wall Street analysts' consensus EPS estimates of $0.34. Net revenues for the quarter were up 17 percent to $39.37 million compared to $33.71 million last year. This came in below Wall Street analysts' consensus revenue estimates of $39.56 million. The company also said that it expects adjusted EPS for the second-quarter between $0.36 and $0.39 on revenues of $38.5 million to $39.8 million. Currently, analysts' have consensus EPS estimates of $0.37 on revenues of $41.31 million for the second-quarter. For fiscal 2012, OPEN anticipates adjusted EPS between $1.49 to $1.64 on revenues between $158 million and $164 million. This compares to current Street consensus EPS estimates of $1.53 on revenues of $168.22 million. While OPEN's earnings guidance was generally in-line, the revenue outlook was soft. Because OPEN is a growth stock, investors are reacting quite negatively to the company's weak revenue guidance on Wednesday.