Zhitong Finance and Economics learned that after the U.S. stock market on Thursday, the travel company Booking Holdings (BKNGUS) reported fourth-quarter results that beat revenue expectations, while gross travel bookings and room nights booked increased significantly, indicating strong demand for travel services.
According to the data, the company's Q4 revenue increased by 18% to 47$800 million, beating analysts' expectations of $47$100 million.
However, since the company has included a pension ** transaction with the Netherlands (2US$7.6 billion) and a draft decision of the Spanish competition regulator (5US$3 billion) related losses, Q4 net profit **82% to 2$2.2 billion, or $6.2 per share$28. But both events were not included in the adjusted results, which came in in at $32 per share, beating analysts' expectations of $2968 USD.
Adjusted EBITDA was $1.5 billion, up 18% year-over-year.
The company's total travel bookings rose 16% to $31.7 billion, beating analysts' expectations of $31.1 billion. Room nights increased 9% year-over-year, and airline ticket sales increased nearly 46% year-over-year.
In terms of full-year results, the company's total revenue increased 25% to $21.4 billion, of which travel bookings increased 24% to $150.6 billion. Adjusted EBITDA also saw a healthy growth of 34% to $7.1 billion.
Glenn Fogel, CEO of Booking Holdings, said: "We are pleased to announce that the number of room nights increased by 9% year-on-year in the fourth quarter of 2023, or 11% excluding Israel-related businesses that have been severely impacted by the war. For the full year, the platform reached a significant milestone with more than 1 billion room bookings, with record gross bookings, revenue, and operating profit. ”
After the earnings report, as of press time, the company's after-hours stock price fell more than 9%.