Orbitz Drops 5%: Sees Q2 Rev Above Consensus; Travelport Affiliate to Sell Shares By Tiernan Ray Shares of online travel broker Orbitz (OWW) are down 47 cents, or 5%, at $8.50, in late trading, after the company this afternoon said its Q2 results are expected to come in above Street expectations, but also said that an affiliate of Travelport Limited, the Atlanta-based e-commerce firm that owns 37% of Orbitz, will sell 20 million shares of stock via a public offering. Revenue in the three months ended in June is expected to be $248 million, it said, and Ebitda is expected to be approximately $45 million. Analysts had been modeling $243 million in revenue and $45.6 million in Ebitda, according to FactSet. The company said “room night growth” in the quarter was 20%, year over year.
Posted on: Thu, 17 Jul 2014 06:05:22 +0000
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