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OpenTable Provides Disappointing Guidance, Shares Fall Sharply in Afterhours (OPEN)

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Online restaurant reservations services provider, OpenTable Inc. (NASDAQ: OPEN) reported late on Thursday that fiscal second quarter income rose 46% as the company handled more online bookings from dinners in the North American region and other smaller international markets.

Both adjusted earnings and revenue topped Wall Street’s estimates; however, shares slumped 6.70% in aftermarket hours as the company handed cautious outlook for the second half of the year.

For the fiscal third quarter, the San Francisco CA based company, expects earnings to be in the range of 38 cents to 42 cents a share on assumption that revenue will come in the range of $45 million to $46.3 million while analysts’ polled by FactSet had expected earnings of 48 cents a share on revenue of $46.5 million.

Looking ahead at the fiscal 2013, OpenTable anticipates earnings of $1.80 to $1.92 a  share on revenue of $186.2 million to $190.1 million while analysts’ consensus forecast was for $1.93 a share on revenue of $188 million.

For the recently concluded quarter, OpenTable posted a profit of $8.3 million or 35 cents a share up from a net income of $5.7 million or 25 cents a share, in the same quarter of last year.

On adjusted basis, the Company earned 50 cents a share.

Revenue climbed 15% to $45.6 million.

Analysts’ consensus forecast was for earnings of 47 cents a share on revenue of $46 million, according to a poll conducted by FactSet.

 








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Post Written By: Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.

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Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing.

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