Booking Shares Rise 9% After 1Q Revenue Beats Expectations
05 Maio 2022 - 11:25AM
Dow Jones News
By Chris Wack
Booking Holdings Inc. shares were up 9% to $2,298.20 after the
company reported first-quarter revenue that beat analysts'
expectations.
The company said that for the quarter, revenue rose $2.7 billion
from $1.14 billion in the same period last year. Analysts polled by
FactSet were looking for revenue of $2.53 billion.
Booking said it had a quarterly loss of $700 million, or $17.10
a share, compared with a loss last year of $55 million, or $1.34 a
share. Adjusted earnings were $3.90 a share. Analysts had forecast
adjusted EPS of 85 cents.
The company said gross travel bookings, the total dollar value
of all travel services booked, net of cancellations, increased 129%
from a year earlier to $27.3 billion.
Booking said that despite an uncertain macroeconomic
environment, it is preparing for a busy summer travel season.
Citigroup raised its price target to $2,800 from $2,600 a share,
while maintaining its buy recommendation.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
May 05, 2022 10:10 ET (14:10 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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