Reserve Holdings Inc. (NASDAQ:BKNG) reported its first-quarter financial results after the bell on Thursday. Here are the key numbers from the report.
Booking reported quarterly earnings of $20.39 per share, which beat analysts’ consensus estimate of $14.06 by 45.02%.
The company reported quarterly sales of $4.415 billion, which surpassed analysts’ consensus estimate of $4.254 billion. This represents an increase of 16.86% compared to sales of US$3.778 billion compared to the same period last year.
Booking reported that gross travel bookings for all travel services booked by customers, net of cancellations, were $43.5 billion, a 10% increase from the year-ago quarter. Nights booked increased by 9% compared to the same period last year.
See more earnings on BKNG
The board of directors declared a cash dividend of $8.75 per share, payable on June 28 to shareholders of record at the close of business on June 7.
“We are pleased to report a strong start to 2024, with year-over-year growth in the first quarter in room nights of 9%, revenue of 17% and operating profit of 76%, all above our previous expectations,” said Glenn Fogel, CEO of Booking Holdings. “As we continue our work to deliver a better planning, booking and travel experience for our travelers, we are seeing encouraging results on Booking.com with increased direct mix, higher frequency and more of our travelers moving into the upper tiers of Genius loyalty. .”
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BKNG Price Action: According to Benzinga Pro, BKNG shares closed up 1.68% at $3,472.91 at press time on Thursday.
Image: Courtesy of Booking Holdings, Inc.
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This article Booking.Com’s Q1 Earnings Show Growth in Travel Demand – Here’s Why Originally appeared on Benzinga.com
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