Priceline.com Inc. (NASDAQ: PCLN) just posted non-GAAP EPS of $0.96 EPS on $334.9 million in revenues, while the estimates from First Call for the online travel company were $0.84 EPS on $329.3 million in revenues, and if you look below these are higher than mid-points of its guidance.
Its guidance for next quarter is pro forma EPS of $0.50 to $0.60 EPS and revenue growth of 30% translates to $391.3 million, while next quarter estimates are $0.53 EPS on $342.42 million in revenues.
As far as 2008 guidance, Priceline offered $4.80 to $5.10 pro form EPS, and estimates for fiscal Dec-2008 are $4.90 EPS on $1.69 billion in revenues.
The short interest may be playing part of this too as it has increased in each of the last two periods and was listed as 9.81 million shares on the last report, which is more than 4.5 days worth of trading volume.
Priceline closed down 2.6% to $102.23 in regular trading and shares are trading up almost 7% initially at $109.00 in after-hours trading. Its 52-week trading range is $48.75 to $120.67.
Jon C. Ogg
February 14, 2008
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