Why did Booking Holdings stock drop today? Geopolitical risks overshadowed earnings
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Booking Holdings (BKNG
-7.7%) fell on Thursday as part of a broad selloff in airline, hotel and travel stocks following the attack by Russia on Ukraine.
The geopolitical backdrop took the focus off what was a strong Q4 earnings report for Booking Holdings (NASDAQ:BKNG) with gross bookings up 160% higher off strong demand from both the agency and merchant business. Room nights were 99.9% higher during the quarter and rental car days were up 35.8%. Airline tickets were 108.0% higher. Adjusted EBITDA was reported at $940M vs. -$38.0M a year ago.
Shares of BKNG trade at their lowest level of 2022.