Booking Holdings (NASDAQ:BKNG) saw its shares jump more than 9% in after-hours trading Thursday after the company released its financial results for the fiscal Q1 2024.
The company reported earnings per share (EPS) of $20.39, significantly surpassing the analyst expectations of $14.09. Revenue was reported at $4.4 billion, also above the consensus projection of $4.25 billion.
The adjusted EBITDA saw a significant uptick, reaching $898 million—a 53% surge compared to the same period last year.
In terms of operational metrics, gross travel bookings amounted to $43.5 billion, marking a 10% increase year-over-year.
Moreover, the number of room nights booked during the quarter rose by 9% compared to the previous year, indicating a strong demand in the travel sector.
"We are pleased to report a strong start to 2024 with first quarter year-over-year growth in room nights of 9%, revenue of 17%, and operating income of 76%, all of which were ahead of our prior expectations," said Glenn Fogel, CEO of Booking Holdings said.
"As we continue our work to deliver a better planning, booking, and traveling experience for our travelers, we are seeing encouraging results at Booking.com with increasing direct mix, higher frequency, and more of our travelers moving into the upper Genius loyalty tiers."
Booking also announced a cash dividend of $8.75 per share, which will be paid on June 28, 2024, to shareholders who are on record as of the close of business on June 7, 2024.