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How OpenTable Is Still Growing as Restaurants' Fortunes Fall

Posted Aug 05, 2009 08:17am EDT by Sarah Lacy in Investing, Internet, Recession

Silicon Valley's newest public company, OpenTable, filed its second quarter earnings yesterday and TechTicker was on the scene to log the first post-quiet period interview with the CEO Jeff Jordan.

The results were solid: Revenues were up 18% and OpenTable posted a $.03 GAAP profit. That's slower growth than the company has had in the past, but still impressive when you consider the restaurant business is off as much as 20% year-over-year, says Jordan.

In this installment, we talk more about the earnings, why OpenTable isn't more profitable, what happens once insiders start selling some 18 million shares, and whether the stock is overvalued at current prices.

28 Comments

__A_YAHOO_USER__
__A_YAHOO_USER__ - Wednesday August 05, 2009 08:32AM EDT

it's all bullsh!!.

Yahoo! Finance User
Yahoo! Finance User - Wednesday August 05, 2009 09:26AM EDT

Perhaps.....They were..."COOKING"....The BOOKS.....BIG TIME...!!!!They Are Probably....."BANKRUPT"....

H
H - Wednesday August 05, 2009 09:30AM EDT

Popoy is Johnney Ike... Please do not listen to this putz!!! He is the king of Putzs'!!! I have seen all the crap Johnney Ike and Popoy post!! WARNING: Popoy is a PUTZ!!!

H
H - Wednesday August 05, 2009 09:42AM EDT

People... This is all bullshit!!! The government runs the media and only allows you to hear what they want you to hear. We are losing jobs at a rapid pace and printing more and more money because the middle class is getting smaller and smaller. We are headed down a dark path which will be nothing you have seen before. The song is playing while Rome is burning!! 9/11 was an inside job done by the NWO and the illuminati and the economic collapse in our near future. We have the numbers now, do something before it's too late.

Yahoo! Finance User
Yahoo! Finance User - Wednesday August 05, 2009 09:58AM EDT

Isn’t this the girl who does those Progressive Insurance commercials? I LOVE her!

Len T
Len T - Wednesday August 05, 2009 10:22AM EDT

Somehow a reservation company doesn't do too much for me. I wish them good luck though.

Yahoo! Finance User
Yahoo! Finance User - Wednesday August 05, 2009 10:40AM EDT

Did you notice how Clinton is taking aim at corruption and graft in Kenya? Isn't that where the birth certificate is? Coincidence? Hmmmm...

ML
ML - Wednesday August 05, 2009 10:48AM EDT

Yes, times are tough and people are cutting back on going out to eat. But the reality is that people are busy working and still desire a break from only cooking at home. Many can't cook anyway. As for those layed off, that's another story as they will likely thrive on savings and possibly move as well. I'm an investor in a restaurant and know wht it's like. Focusing on customer service and providing good food at a good price has always been the rule, in good times as well as bad.

Chris R
Chris R - Wednesday August 05, 2009 10:55AM EDT

Get ready people. Stock up food, ammunition and water. This is ALL B.S. Economic collapse is imminent.

Yahoo! Finance User
Yahoo! Finance User - Wednesday August 05, 2009 10:57AM EDT

Speaking to a conference in President Barack Obama's ancestral homeland, Clinton said, "True economic progress in America will depend on responsible governments that reject corruption, enforce the rule of law and deliver results for their people.".. uh excuse me... she was referring to Africa in that statement, not America.. my bad :)

James
James - Wednesday August 05, 2009 10:59AM EDT

The historical norm for the P/E of the S&P 500 is under 15. Lately the S&P 500 has been around 1000. That puts the P/E of the cumulative S&P at an outgrageously high 130 !!! In order for the P/E of the S&P 500 to be under 15 it should be at .......112. Obviously, 112, is a LONG LONG way down from 1000. Which means that for stocks to be priced at a level closer to their historical norms, they have a LONG LONG way to come down. Or corporate profits have to jump to several times their current levels very quickly. Anyone out here, looking the economy, think that's likely? Here's a cut/paste from a financial advisory website: "Saying that equities are overvalued here is a monumental understatement. The market is priced for a miraculous recovery, in every sector, starting tomorrow. It’s priced as if America’s debt (at all levels) will disappear, or is a non-issue. Valuations must also assume that consumers will resume spending beyond their means immediately, and that this is sustainable. None of these rosy scenarios are gonna happen. Consumer-spending hit a wall last Fall, when it finally dawned on people that we can’t spend forever, using inflated houses as refi-ATMS. Another, more severe collapse is imminent. But we might move up for a while longer, so be careful on the short side. This market is manipulated and delusional."

Yahoo! Finance User
Yahoo! Finance User - Wednesday August 05, 2009 11:02AM EDT

crazyfack66 Fitting name, at least the first 5 letters

Annette K
Annette K - Wednesday August 05, 2009 11:06AM EDT

crazyjack, you are right on the money with these comments. I do believe Obama is just like Nero playing the fiddle while Rome is burning. Oh and by the way it is all of their plan to wipe out the baby boomers because we are the last generation of patriots who remember from our parents and grandparents WW1, WW11 and the Korean War. We must be contained and financialy destroyed because of our believe in the American way.

Yahoo! Finance User
Yahoo! Finance User - Wednesday August 05, 2009 11:09AM EDT

Omigod -- What a bunch of idiots.....

Jim
Jim - Wednesday August 05, 2009 11:10AM EDT

Don't try to follow the trend with Turd Trader.. better to try to predict the future... or better yet, I am comfortable predicting that if you follow the Turd you will lose your money.....

Yahoo! Finance User
Yahoo! Finance User - Wednesday August 05, 2009 11:15AM EDT

Actually, I can draw a trend line for FREE... who needs to pay $800 for a turtle to do that.....

H
H - Wednesday August 05, 2009 11:17AM EDT

HAHA to all the people living with their head up their ass is so funny. So scared that they don't open their eyes to the truth!! Hell you think I'm a crack head and nuts?? Well people I was only trying to help you out... but F U!! After posting this I'll probably be deleted by my superiors but I'm an NWO soldier and waiting for that call. You will be slaved, imprisoned, killed, and used. But hey keep telling yourself everything will be ok!! HAHAHA see you soon ; )

Yahoo! Finance User
Yahoo! Finance User - Wednesday August 05, 2009 11:26AM EDT

Capitalism will continue to thrive because it gives the little guy a chance to make it on his/her own merits.. it's just getting harder to be successful in an overpopulated world ...

H
H - Wednesday August 05, 2009 11:32AM EDT

joeblowme35 and Fat ass (chubby) - Don't piss ur self when I come knocking on your door to throw you into a FEMA death camp!! HAHA Yeah you should stick all your money in the market I hear it's going to hit 10.5.... Please put all your money in, it's really going to hit 10.5, plus I need a new car and another house. Thanks dummby!!!!

Yahoo! Finance User
Yahoo! Finance User - Saturday September 05, 2009 04:45PM EDT

Here's a post on Sarah Lacy and how she sold it in this interview - http://reservationdc.wordpress.com/2009/09/05/did-sarah-lacy-sell-out-during-her-interview-with-opentable-ceo-jeff-jordan/

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