Priceline posts healthy first quarter profit, but Wall Street thinks guidance is a bummer
Skift Take
Priceline is anxious to see what it terms its Booking.com "experiment" in the U.S., replete with offline branding campaign, succeed. Given the volatily in subsidiary Booking.com's core European market, growth in the U.S., alongside Priceline.com, would serve as a hedge against Europe's troubles.
Priceline.com Inc., the largest U.S. online-travel agent by market value, forecast second-quarter profit that missed analysts’ estimates as international expansion exposes the company to economic swings in Europe.
Profit, excluding some items, will be $8.87 to $9.45 a share in the current period, the Norwalk, Connecticut-based company said in a statement today. Analysts were projecting a profit of $9.59, according to data compiled by Bloomberg.
Priceline, fueled by its Amsterdam-based Booking.com unit, has bolstered accommodation-booking revenue by s
