Priceline.com loses less than expected

Priceline.com lost less in the first quarter than analysts were estimating and stuck to earlier predictions of a second-quarter profit.

After market close Tuesday, the online seller known for its "Name Your Own Price" system reported a first-quarter loss of $6.2 million, or 3 cents per share. First Call's survey of 11 analysts predicted a loss of 5 cents per share for Priceline.com's first quarter ended March 31.

Shares of Priceline.com traded at $7.37 in after-hours activity on the Island ECN, immediately following the release of quarterly results. They rose $1.74 to $6.59 in Tuesday's regular trading ahead of the news.

First-quarter revenue increased 18 percent sequentially to $269.7 million. The company added more than 891,000 customers during the quarter.

Priceline.com reiterated its earlier forecast calling for a profit in the second quarter, with revenue rising 10 percent to 15 percent sequentially.

Earlier Tuesday, shares of Priceline.com shot higher after Goldman Sachs upgraded the stock.>