Priceline lower on weak Q2 guidance

|By:, SA News Editor

Priceline (NASDAQ:PCLN) trades lower after setting profit guidance below expectations.

The online travel company sees Q2 EPS of 13.30 to $14.00 vs. $14.99 consensus and Q2 EBITDA of $860M to $905M vs. $974M.

Gross travel booking improved 24% in Q1, but revenue missed consensus slightly.

Goldman Sachs adjusts longer-term EPS estimates upward on Priceline after taking in the report. The firm now sees 2017 EPS of $70.33, 2018 EPS of $79.72 and 2019 ESP of $91.42.

Previously: Priceline beats by $0.99, misses on revenue (May 9)

PCLN -3.14% premarket to $1,851.16.