Booking Holdings 4Q Revenue Growth Holds Strong
By Ben Glickman
Booking Holdings' revenue grew ahead of expectations in the fourth quarter, a sign of strong travel demand compared to a year earlier.
The Norwalk, Conn.-based online travel company posted a profit of $222 million, or $6.28 a share, in the quarter ended Dec. 31, compared with $1.24 billion, or $31.92 a share, a year earlier. Analysts polled by FactSet expected per-share earnings of $28.43.
Stripping out certain one-time items, adjusted per-share earnings came to $32, ahead of the $29.68 forecast by analysts, according to FactSet.
Revenue was up 18% to $4.78 billion, beating the $4.71 billion expected by analysts polled by FactSet.
The company's gross travel bookings rose 16% to $31.7 billion, ahead of the $31.1 billion expected by analysts.
Booking said that it took losses related to a pension fund matter in the Netherlands and a draft decision by the Spanish competition authority, both of which dented profit and were excluded from adjusted results.
Write to Ben Glickman at ben.glickman@wsj.com
(END) Dow Jones Newswires
February 22, 2024 16:36 ET (21:36 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
What History Tells Us About the Fed’s Next Move
-
What’s Happening In the Markets This Week
-
Alphabet’s New Dividend: What Investors Need to Know
-
Going Into Earnings, Is Palantir Stock a Buy, a Sell, or Fairly Valued?
-
Going Into Earnings, Is Eli Lilly Stock a Buy, a Sell, or Fairly Valued?
-
What’s the Difference Between the CPI and PCE Indexes?
-
5 Stocks to Buy That We Still Like After They’ve Run Up
-
Markets Brief: Stocks Are Starting to Look Cheap Again
-
AbbVie Earnings: Next-Generation Immunology Drugs Help Offset Humira Biosimilar Pressure
-
Exxon Earnings: Ignore Earnings Shortfall as Long-Term Growth and Improvement on Track
-
American Airlines Earnings: We See Costs Overshadowing Market Share This Year
-
Snap Earnings: Advertising Growth and Snapchat+ Drive Monetization
-
STMicro Earnings: We Still See an Attractive Margin of Safety Despite a Poor First-Half Forecast
-
Alphabet Shares Surge on Strong Earnings, Dividend Surprise
-
Microsoft Earnings: Firm Beats Forecasts on Strong AI and Cloud Demand
-
PG&E Earnings: Near-Term Regulatory Certainty Supports Industry-Leading Earnings Growth