Priceline Swoons After Hours; Volcano, Weak Euro Hurts Results

Priceline (PCLN) shares are trading sharply lower – reversing a large gain in the regular session – on modestly disappointing Q1 results.

For the quarter, the company posted revenue of $584.4 million, up 26.5% from a year ago, but shy of the Street at $597.2 million. Pro forma EPS of $1.70 a share edged the Street at $1.66.

For Q2, the company sees revenue up 18%-23% from a year ago; that implies $712.4 million to $742.6 million, below the Street at $759.5 million.

Priceline said results in the latest quarter were negatively affected by the volcano in Iceland, civil unrest in Thailand and the decline in the Euro against the dollar.

PCLN, which rose $24.36, or 10.8% in the regular session, is down $26.25, or 10.5%, in late trading, to 223.50.