Web travel site Travelzoo (TZOO) missed even Wall Street’s lowered expectations for earnings, turning in a loss of $0.08 per share, compared to a $0.25 profit in the same quarter last year. The Street had been expecting a profit of $0.08 a share, but Wedbush Morgan Securities Analyst Edward Woo lowered his first-quarter estimate to $0.02 hours before the company reported this afternoon.
Revenue of $20.9 million came in slightly higher that the $19.7 million expected by the Street. CEO Ralph Bartel chalked up the earnings miss to “aggressive expansion in Asia Pacific and Europe” — which is why Woo knocked down his targets in advance. No mention of the company’s fondness for very expensive real estate.
TZOO fell 5.49% to $12.23 a share on Monday, and then dropped another 10 cents in after-hours trading.
See Also: TravelZoo’s Rent Bill: $1.6M A Year
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