Booking Holdings Co., Ltd. (NASDAQ:BKNG) It announced its first quarter results after the bell on Thursday. Key numbers from the report include:
Booking's quarterly earnings were $20.39 per share, beating analysts' consensus estimates of $14.06 by 45.02%.
The company had quarterly revenue of $4.415 billion, beating analysts' consensus estimates of $4.254 billion. This represents an increase of 16.86 percent compared to the same period last year's sales of $3,778 million.
Bookings said the total travel booking value (excluding cancellations) across all travel services booked by customers was $43.5 billion, up 10% from the same period last year. Room reservations increased by 9% compared to the same period last year.
See more earnings at BKNG
The Board of Directors announced that it will pay a cash dividend of $8.75 per share on June 28 to shareholders of record as of the close of business on June 7.
“As we look ahead to 2024, we are pleased to report that in the first quarter, room nights increased by 9% year-over-year, revenue increased by 17% and operating income increased by 76%, all of which exceeded our prior expectations. I'm happy to report that.'' Glenn Fogel, CEO of Booking Holdings. “As we continue our efforts to provide travelers with better planning, booking and travel experiences, Booking.com is increasing its direct mix, increasing frequency, and bringing more travelers to the top of Genius loyalty. We are seeing positive results, such as the transition to layers.
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BKNG price action: As of Thursday's announcement, BKNG stock closed 1.68% higher at $3,472.91, according to Benzinga Pro.
Image: Provided by Booking Holdings, Inc.
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The article Booking.Com's Q1 earnings show growth in travel demand – Why was originally published on Benzinga.com
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