Booking Holdings 4Q Earnings Top Expectations
Booking Holdings blew past Wall Street's expectations as the company followed in the footsteps of its competitors with higher-than-expected earnings and bookings.
Shares of Booking Holdings up 2% in after-hours trading.
The travel company, which owns brands such as Booking.com and Kayak, posted a profit of $1.07 billion, or $31.95 a share, in the three-months ended Dec. 31, compared with $222 million, or $6.28 a share, a year earlier.
Stripping out certain one-time items, adjusted per-share earnings were $41.55, ahead of the $36.08 forecast by analysts, according to FactSet.
Revenue rose 14% to $5.47 billion. Analysts surveyed by FactSet forecast revenue of $5.18 billion.
The number of nights booked in hotel rooms grew 13% to 261 million, ahead of the 250 million expected by Wall Street, the Norwalk, Conn., company said. Gross bookings increased 17%.
Booking's competitors Expedia and Airbnb also posted better-than-expected financials that showed travel demand is still strong, even though some were expecting there to be a lull after a spike in business in 2021 and 2022.
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