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Priceline, TripAdvisor Sink As Competition Weighs On OTAs

The shares of online travel agencies Priceline (PCLN) and Tripadvisor (TRIP) are falling after Priceline's Q3 profit guidance came in below expectations and Tripadvisor reported that its transaction revenue per hotel shopper fell last quarter.

PRICELINE: Priceline reported Q2 earnings per share, excluding some items, of $15.14, versus the consensus outlook of $14.20. The company's revenue came in slightly above expectations. However, it provided Q3 EPS guidance, excluding some items, of $32.40-$34.10, versus the consensus outlook of $34.20.

TRIPADVISOR: Tripadvisor reported Q2 EPS of 38c, versus the consensus outlook of 30c. The company's revenue came in slightly above expectations. However, it reported that its TripAdvisor-branded click-based and transaction revenue per hotel shopper decreased 2% year-over-year.

REACTION ON PRICELINE: Priceline failed to beat its guidance last quarter for the first time since 2012, wrote Cowen analyst Kevin Kopelman. The analyst blamed this development on tougher...


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