Priceline shares tumble after forecast for slower growth

(Reuters) – Priceline Group Inc on Wednesday said its growth would slow in the second quarter as it spends more on marketing and as the timing of holidays shifts traveler bookings, sending shares down more than 7 percent in premarket trading. The lower forecast overshadowed a first-quarter profit that exceeded expectations at the world’s most profitable online travel services company. Priceline Group, which operates Booking.com and other sites, earned $374 million in the first three months.

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