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 reported quarterly revenue of $4.415 billion, beating analysts’ consensus estimates of $4.254 billion. This represents an increase of 16.86% compared to the same period last year’s sales of $3.778 billion.
The total travel booking value (excluding cancellations) for all travel services booked by customers was $43.5 billion, up 10% from the same period last year, according to Bookings. Room reservations increased by 9% compared to the same period last year.
See more earnings at BKNG
The Board of Directors announced that a cash dividend of $8.75 per share will be paid on June 28 to shareholders of record at the close of business on June 7.
“As we look ahead to 2024, we are pleased to announce 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 helping more travelers reach the top of their Genius loyalty ranks. We are seeing positive results, including a shift 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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