Booking Holdings Surpasses Q4 Estimates on Strong Travel Demand
Booking Holdings (BKNG) exceeded analysts' forecasts for both revenue and profit in the fourth quarter, driven by robust international travel demand. Shares surged 5% in after-hours trading.
Europe, the company's largest market, witnessed robust leisure travel, with domestic and long-haul trips by affluent American travelers contributing to growth. Asia-Pacific also saw strong demand, particularly in Southeast Asian destinations benefiting from increased Chinese tourism following eased visa restrictions.
For the quarter ended December 31, Booking Holdings reported an adjusted profit per share of $41.55, surpassing the consensus estimate of $36.03. Total booked room nights climbed 13% year-over-year to 261 million. Gross bookings reached $37.2 billion, a 17% increase from the same period last year.
Total quarterly revenue amounted to $5.47 billion, representing a 14% increase from the previous year. Analysts had anticipated revenue of $5.18 billion.