Categories Consumer, Earnings

Booking Holdings Q1 profit jumps 26% but misses estimates

Booking Holdings Inc. (BKNG) reported a 26% jump in earnings for the first quarter helped by higher unrealized gains on marketable equity securities. However, the results missed analysts’ expectations. Also, the company guided second-quarter earnings and revenue below the consensus estimates.

Net income increased 26% to $765 million and earnings jumped 37% to $16.85 per share. Adjusted earnings decreased by 7% to $11.17 per share. Total revenues declined by 3% to $2.8 billion. Gross travel bookings inched up 2% to $25.4 billion.

Looking ahead into the second quarter of 2019, the company expects revenue growth in the range of 5% to 7%. Earnings are anticipated to be in the range of $21.10 to $21.55 per share and adjusted earnings are predicted to be in the range of $22.15 to $22.60 per share. Adjusted EBITDA is projected to be $1.295 billion to $1.325 billion.

Booking Holdings first quarter 2019 earnings snapshot

 

For the second quarter, the company sees room nights booked growth in the range 6% to 8% and total gross travel bookings in the range of down 1% to up 1%.

For the first quarter, gross travel bookings rose by 1.6% year-over-year to $25.41 billion. The results were primarily driven by a 29% growth in Merchant during the quarter. Meanwhile, the agency segment fell 4.4% to $19.68 billion. Room nights units sold increased by 10.3% and Airline tickets rose by 4.4%, while rental car days declined by 1.3%.

In the first week of May, rival Expedia (EXPE) reported a narrower loss for the first quarter supported by a 4% rise in revenues. The positive top-line performance reflects contributions from Expedia Partner Solutions and Brand Expedia. At Vibo, Expedia’s short-term rental business, growth slowed for the second straight month.

Shares of Booking Holdings ended Thursday’s regular session down 0.89% at $1,736.03 on the Nasdaq. Following the earnings release, the stock inched up over 4% in the after-market session.

 

Get access to timely and accurate verbatim transcripts that are published within hours of the event.

Most Popular

Conagra (CAG) bets on consumer psychology to drive future demand and growth

Conagra Brands Inc. (NYSE: CAG) reported strong results for the third quarter of 2021 which surpassed expectations. Net sales increased 8.5% to $2.8 billion helped by the increase in at-home

Carnival Corp. (CCL): Vaccine rollout and pent-up demand provide optimism for the cruise operator

Shares of Carnival Corp. (NYSE: CCL) were down over 2% on Thursday. The company reported first quarter 2021 earnings results a day ago which missed expectations. Despite seeing a drastic

It might not be the right time to invest in American Express. Here’s why

Widespread flight cancellations and restrictions on the hotel industry during the pandemic have had a ripple effect on credit card companies and payment service providers. After going through a rough

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top