Booking Holdings Reports Strong Q1 2024 Results
Booking Holdings (BKNG) reported strong financial results for the first quarter of 2024, with revenue exceeding analyst expectations and earnings per share (EPS) significantly surpassing estimates.
Revenue for the quarter came in at $4.42 billion, representing a 16.9% increase year-over-year. This figure surpassed the Zacks Consensus Estimate of $4.25 billion by 3.87%.
EPS reached $20.39, a significant improvement compared to $11.60 in the same quarter last year. This result exceeded the consensus estimate of $14.03 by 45.33%.
Gross Bookings: Total gross bookings reached $43.50 billion, exceeding the average analyst estimate of $42.13 billion.
Room nights sold reached 297 million, surpassing the estimated 289.52 million. Airline tickets and rental car days sold also exceeded expectations.
Agency revenues remained relatively flat year-over-year, while advertising and other revenues increased by 8.2%. Merchant revenues saw a significant increase of 36.3%.
Despite strong financial performance, Booking Holdings' stock price has declined by 6% over the past month. However, the company maintains a Zacks Rank #2 (Buy), indicating potential for outperformance in the near term.
Overall, Booking Holdings' Q1 2024 results demonstrate continued growth and strong financial performance. Key metrics highlight the company's underlying strength, and its Zacks Rank suggests potential for future gains.