Orbitz Profit Falls Short Of Estimates

Orbitz Worldwide reported on Thursday a third-quarter profit of $9 million, or 8 cents a share, down from $13 million, or 11 cents a share, in the year-earlier period. Revenue rose 15% from last year to $253.1 million, amid a 14% increase in gross bookings. The FactSet consensus analyst estimates were for earnings per share of 14 cents and revenue of $253 million. The online travel booking company lowered the top end of the expected range for 2014 revenue growth, to a range of 9% to 10% from its previous outlook of 9% to 11%. The stock was indicated slightly higher in premarket trading. It has gained 18% so far this year through Wednesday, while the S&P 500 has gained 9.5%.

Copyright © 2014 MarketWatch, Inc.