Booking Holdings tops earnings estimates, highlights resilient travel demand
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Booking Holdings (NASDAQ:BKNG) signaled continued strength in travel demand after reporting better than expected earnings results on Thursday.

The online travel services provider posted $24.74 in earnings per share for the fourth quarter, surpassing the Street consensus by $2.66. Meanwhile, a 35.9% jump in revenue to $4.05B was $150M above the analyst expectation. Gross bookings reached $27.3B in Q4, outpacing the $25.56 consensus. However, 211M room nights booked in the quarter came up short of the 213.4M expectation.

âWe generated our highest-ever level of revenue of $17B in the year, which increased 56% versus 2021 and was 13% higher than in 2019,â CEO Glenn Fogel said. âWe are encouraged by the continued strength and resiliency of demand from travelers last year and into the new year, which we believe speaks to our consumersâ strong desire to use our platforms when booking their travel.â

He added that the company's performance was particularly promising in the face of macroeconomic uncertainty throughout the year. For January, Fogel told analysts that room nights were up 26% year over year. 

Elsewhere, the company announced that current CFO David I. Goulden will be transitioning to a different role, pending the expected hiring of his successor, by March 2024.
Shares of the Connecticut-based travel company ticked 0.6% lower in Thursdayâs extended trading shortly after the results were announced.