$3m profit defies expectations...
Published: 4 February 2002 14:45 GMT
'Name your own price' travel site Priceline posted an unexpected fourth quarter profit today, but warned that first quarter results could be lower than analysts' forecasts.
Operating profit, excluding special charges, was $3.3m, or one cent per share, compared with a loss of $25m, or 15 cents per share, in the same quarter last year.
Revenue increased to $235.3m, from $228.2m a year earlier. Analysts surveyed by Firstcall had predicted revenue of $225.5m.
But Priceline said it could miss first quarter forecasts, with earnings per share, excluding special charges, of between zero and two cents, on revenue between $260m and $290m.
Firstcall analysts have forecast earnings of two cents per share on revenue of $291m for the first quarter.
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