NEW YORK (CNN/Money) - Priceline.com lowered its revenue and profit guidance for the second quarter, saying it doesn't see the expected seasonal gain in airline ticket sales on its Web site in June.

The e-commerce company, which allows customers to bid on air travel and hotel rooms, said it expects revenue to fall to 5 percent below the low end of its previous guidance, which would bring revenue to about $304 million, down from $364.8 million a year earlier. Analysts surveyed by earnings tracker First Call had a consensus revenue forecast of $330.6 million for the current period.

The company also said it expects earnings excluding stock-based compensation and option payroll taxes of about $6 million, or 3 cents a share. First Call's consensus forecast was 4 cents a share, with analysts' estimates ranging from 3 to 5 cents.

The report sent Priceline (PCLN: down $0.97 to $2.83, Research, Estimates) stock sliding more than 25 percent on Wednesday.