Travelzoo Inc. (NASDAQ: TZOO) is having one nasty day. The online travel booking site warned that third-quarter revenue was now falling and it expects a worse-than-expected earnings report as well. An admission from management that hotel offerings were not up to snuff is not helping matters at all.
The company is now targeting $35.0 million to $35.5 million in revenue and sees earnings coming in a range of $0.20 to $0.22 per share. Thomson Reuters had the consensus estimates of $0.27 in earnings per share and its consensus on revenue was about $38.9 million.
In an order to help things get back on track, Travelzoo says that it is in talks to acquire a hotel bookings website. We will have to wait for the size details later. The new market value of Travelzoo is about $375 million.
Travelzoo is trading down at $20.28 after a 13.7% drop, and the lowest point so far on Friday was $19.33. This is important because Travelzoo’s prior 52-week trading range was $19.38 to $34.95.
JON C. OGG
Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
