Booking Holdings Reports Better-Than-Expected Earnings And Revenue

Booking Holdings Inc. ( (NASDAQ:PCLN) ) just released its latest quarterly financial results, posting non-GAAP earnings of $16.86 per share and revenues of $2.80 billion.

Currently, PCLN is a Zacks Rank #3 (Hold), but that could change based on today’s results.

Booking Holdings:

Beat earnings estimates. The company posted adjusted earnings of $16.86 per share, beating the Zacks Consensus Estimate of $14.12 per share. Factoring in a $1.3 billion charge related to the U.S. Tax Cuts and Jobs Act, Booking saw a loss of $11.41 per share.

Beat revenue estimates. The company saw revenue figures of $2.80 billion, beating our consensus estimate of $2.70 billion.

Gross travel bookings in the quarter reached $18.0 billion, up 19% from the prior-year period. Non-GAAP net income gained 19% from the prior-year quarter. Adjusted EBITDA for the quarter was $1.1 billion, up about 23% year over year.

“We intend to continue to strategically invest in our business by growing our supply base to drive customer choice, innovating around the customer and supplier experience and investing in marketing that builds consumer awareness for our brands and delivers profitable top-line growth,” said CEO Glenn Fogel.

Here’s a graph that looks at Booking’s recent earnings performance:

Booking Holdings Inc. Price, Consensus and EPS Surprise

Booking Holdings Inc. Price, Consensus and EPS Surprise | Booking Holdings Inc. Quote

Formerly known as The Priceline Group, Booking Holdings is the world's leading provider of online travel & related services, provided to consumers and local partners, through six primary brands: Booking.com, priceline.com, KAYAK, agoda.com, rentalcars.com, and OpenTable.

Check back later for our full analysis on PCLN’s earnings report!

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