Priceline.com Declines After Q1 Results

Priceline.com PCLN released its first-quarter earnings results after the closing bell on Thursday. Despite reporting earnings and revenue which came in above Wall Street analysts' consensus estimates, the stock was last trading down around 3 percent to $714.50 in the after hours trading session. The company reported net income of $244.27 million or $4.76 per share compared to $181.97 million or $3.54 per share, in last year's corresponding period. Net income on an adjusted basis was $297.24 million or $5.76 per share, versus $220.86 million or $4.28 per share, in last year's first-quarter. This easily beat analysts' consensus EPS estimates of $5.27. Revenue in the quarter was $1.30 billion from $1.04 billion last year. This also topped Wall Street analysts' consensus sales estimates of $1.28 billion. Looking ahead to Q2, Priceline.com guided for EPS of $7.87 to $8.45 and adjusted EPS of $8.87 to $9.45. This compares to current consensus estimates of $9.58 per share for the fiscal second-quarter.