Booking Holdings 1Q Profit Rises As Users Up Frequency
By Ben Glickman
Booking Holdings said its profit jumped in the first quarter as the company's traveler bookings grew ahead of expectations, buoyed by users traveling more reliably to the company's site.
The Norwalk, Conn.-based online travel company reported a profit of $776 million, or $22.37 a share, in the quarter ended March 31, compared with a profit of $266 million, or $7 a share, a year earlier. Analysts polled by FactSet expected a per-share profit of $12.63.
Stripping out certain one-time items, the company posted an adjusted profit of $20.39, ahead of the $13.98 expected by analysts surveyed by FactSet.
Revenue rose 17% to $4.42 billion, beating the $4.25 billion expected by analysts polled by FactSet.
Booking said gross travel bookings rose 10% to $43.5 billion, compared with the $42.2 billion expected by analysts. Room-nights booked were up 9% from a year earlier.
Chief Executive Glenn Fogel said the company had seen customers visiting Booking.com with higher frequency, with more travelers using premium loyalty tiers.
Write to Ben Glickman at ben.glickman@wsj.com
(END) Dow Jones Newswires
May 02, 2024 16:28 ET (20:28 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
What’s Happening in the Markets This Week
-
Worst-Performing Stock ETFs of the Quarter
-
Q3 in Review and Q4 2024 Market Outlook
-
Top-Performing Stock ETFs of the Quarter
-
September Jobs Report Forecasts Show Moderate Hiring Gains
-
Port Strike a Headache for Shippers but a Potential Tailwind for Certain US Transport Stocks
-
13 Charts on Q3′s Roller-Coaster Rally for Stocks and Bonds
-
5 Stocks to Buy Instead of Overpriced US Equities
-
Consumer Defensives: Despite Angst, Thirsty Investors Have Names to Pursue
-
Industrials: Many Stocks Overvalued After Q3 Outperformance
-
Basic Materials: Despite Index Rise, We See Multiple Long-Term Opportunities
-
What the Election Could Mean for Big Tech Stocks
-
3 Lessons From Recent Stock Market Drama
-
Consumer Cyclicals: Even Amid Moderating Consumer Spending, We See Discounts
-
Healthcare: Valuations Look Fair Overall, With Select Industries Still Undervalued
-
Utilities: Falling Interest Rates, Growth Outlook Boosting Stocks