Priceline.com (PCLN) Q1 Profit Tops Estimate, Revenue Below Expectations

New York, May 10 (FinanceEnquiry.com) – On Wednesday,  Priceline.com (NASDAQ: PCLN), the commercial website that helps users obtain discount rates for travel-related purchases such as airline tickets and hotel stays, reported higher Q1 profit and EPS, though its revenue declined.

The company’s Q1  revenue jumped 28 percent in comparison to last year, aided mainly by revenue from international operations that soared 58.5 percent. Priceline.com’s Q1  net income jumped from $105 million or $2.05 per share last year to   $182 million or $3.54 per share.  Analysts estimated  earnings of $3.95 per share for the  mentioned period. Q1 revenue for the Norwalk, Connecticut-based company  increased from $809 million last year to $1.037 billion, a jump of 28 percent, more or less in-line with analysts consensus revenue estimate of $1.04 billion for the quarter.

The company that facilitates the provision of travel services by its suppliers to its customers is hopeful of achieving Q2 EPS in the range of  of $6.34 to $6.54 and revenue growth of 18 to 23 percent from last year. Analysts  expect earnings of $7.38 per share on a revenue of $1.39 billion for the second quarter.

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