Priceline.com Inc., the third-largest U.S. seller of travel services on the Internet, said second-quarter revenue fell more than expected because of slower-than-anticipated sales of airline tickets.
Sales will be about $304 million, or about 5 percent lower than its forecast, the Norwalk, Conn.-based company said in a statement. Profit before some costs will be about $6 million or 3 cents a share, at the low end of the company’s range of estimates.
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Airline ticket sales didn’t increase in June, which is usually the company’s strongest month, it said in the statement.
Sales have been hurt by a decline in airline travel that has persisted since the terrorists’ attacks in Sept. Hotel related sales continue to increase.
Priceline.com had profit of about $2.8 million, or 1 cent a share, on sales of $364.8 million in the year-earlier quarter. The company plans to release second-quarter results July 31.
The shares in Norwalk, Connecticut-based Priceline.com rose 20 cents to $3.80 yesterday. They have fallen 35 percent this year.
Spokesman Brian Ek couldn’t be reached for comment.
Bloomberg News
