Priceline Shares Drop $55 and Bounce $50 After Priceline.com Earnings: Double Digit Revenue Growth

Priceline Shares Drop $55 and Bounce $50 After Priceline.com Earnings: Double Digit Revenue Growth 

Priceline Shares Drop $55 and Bounce $50 After Priceline.com Earnings: Double Digit Revenue Growth (VIDEO). SMF Traders had the right price level on the lower end of the name at $665 for the long and $728 for the short. The short sale was good for a quick $31.80 drop in the name where we covered at $696.20 representing a 4.368% return in just 13 minutes.

The online travel company [PCLN] posted first-quarter earnings excluding items of $4.28 per share, up from $2.66 per share in the year-earlier period.

Revenue rose 29 percent to $1.04 billion from $809 million a year ago.

Analysts had expected Priceline to report earnings excluding items of $3.95 per share on $1.04 billion revenue, according to Thomson Reuters.

For the second quarter, Priceline said it expects earnings between $7.20 and $7.40 a share with a revenue increase of between 18 percent and 23 percent.

The current consensus is for earnings of $7.37 a share on revenue of $1.39 billion, which would be an increase of 26 percent — much higher than the company’s range.