Name-your-price online retailer Priceline.com (Nasdaq: PCLN) impressed Wall Street on Wednesday when it released its first earnings report since becoming a public company. The company lost $17.2 million — or 12 cents a share — in the first quarter of 1999, but analysts had expected a loss of 13 cents a share. The first-quarter loss was a 77 percent decrease from the net loss of $73.7 million for the fourth quarter of 1998. Meanwhile, revenue increased 160 percent in that same time period, growing to $49.4 million (US$) from $19 million.
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Priceline.com Pleases The Street
Posted by: Andy Wang May 5, 1999 12:00 AMName-your-price online retailer Priceline.com (Nasdaq: PCLN) impressed Wall Street on Wednesday when it released its first earnings report since becoming a public company. The company lost $17.2 million — or 12 cents a share — in the first quarter of 1999, but analysts had expected a loss of 13 cents a share. The first-quarter loss was a 77 percent decrease from the net loss of $73.7 million for the fourth quarter of 1998. Meanwhile, revenue increased 160 percent in that same time period, growing to $49.4 million (US$) from $19 million.