Why Priceline Stock Is Slumping Today
Share of online travel giant Priceline Group (NASDAQ: PCLN) tumbled on Wednesday despite a strong second-quarter report. Priceline's guidance seems to be the culprit, with the company calling for a slowdown in travel bookings and earnings below analyst expectations. As of 12:36 p.m. EDT, the stock was down 7.3%.
Priceline reported second-quarter revenue of $3.02 billion, up 18.3% year over year and $30 million higher than the average analyst estimate. Gross travel bookings were $20.8 billion, up 16% year over year, and up 19% adjusted for currency. The company booked 170 million room nights during the quarter, up 21% year over year, while airline ticket bookings fell 8.7% to 1.8 million.
Image source: Priceline Group.
Source: Fool.com
Booking Holdings Inc. Aktie
3.816,0 €
2,86 %
Die Community sieht Booking Holdings Inc. leicht positiv: Mehr Buy- als Sell-Einschätzungen.
Ein positives, wenn auch bescheidenes, Potenzial für Booking Holdings Inc. mit einem Kursziel von 4500 € im Vergleich zum aktuellen Kurs von 3816.0 €.
