Booking Holdings Inc. BKNG reported its fourth-quarter financial results after the bell Thursday. Here's a look at the highlights.
The Details:
Booking Holdings reported quarterly earnings of $32.00 per share which beat the analyst consensus estimate of $29.86 by 7.17% and is a 29.35% increase over earnings of $24.74 per share from the same period last year.
The company reported quarterly sales of $4.78 billion, beating the analyst consensus estimate of $4.71 billion by 1.61% and representing an 18.15% increase over sales of $4.05 billion from the same period last year.
Gross travel bookings for the fourth quarter were $31.7 billion, an increase of 16% from the prior-year quarter, and room nights booked increased 9% from the prior-year quarter.
Booking also initiated a quarterly cash dividend of $8.75 per share, payable on March 28 to shareholders of record as of the close of business on March 8. The company says it expects to pay a cash dividend on a quarterly basis going forward.
“We are pleased to report a strong close to 2023 with fourth quarter room nights growing 9% year-over-year or 11% when excluding business associated with Israel, which was significantly impacted by the war. For the full year, we reached a significant milestone with over 1 billion room nights booked on our platforms, and we achieved record levels of gross bookings, revenue, and operating income,” said Glenn Fogel, CEO of Booking Holdings.
“We are confident in the long-term growth of leisure travel and in the opportunities ahead for our company as we continue our work to deliver a better offering and experience for our supply partners and our travelers,” Fogel added.
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BKNG Price Action: According to Benzinga Pro, Booking Holdings shares are trading down 4.66% after-hours at $3,720.00 at the time of publication.
Image: Courtesy of Booking Holdings, Inc.
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