OpenTable Earnings: Here’s Why the Stock is Down Now
OpenTable, Inc. (NASDAQ:OPEN) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 1.58%.
OpenTable, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 12.5% to $0.45 in the quarter versus EPS of $0.40 in the year-earlier quarter.
Revenue: Rose 15.57% to $45.5 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: OpenTable, Inc. reported adjusted EPS income of $0.45 per share. By that measure, the company beat the mean analyst estimate of $0.43. It missed the average revenue estimate of $45.58 million.
Quoting Management: “We’re pleased with seated diner growth during the first quarter in both our North America and International business segments,” said Matt Roberts, President and CEO of OpenTable. “More than one third of the 34 million diners we seated in North America during the quarter were attributable to mobile, and we’re continuing to optimize our mobile products around the globe to further capitalize on the opportunity.”
Key Stats (on next page)…