Booking Holdings: 1Q Earnings Snapshot
NORWALK, Conn. (AP) _ Booking Holdings Inc. (BKNG) on Thursday reported a first-quarter loss of $699 million, after reporting a profit in the same period a year earlier.
The Norwalk, Connecticut-based company said it had a loss of $17.01 per share. Earnings, adjusted for one-time gains and costs, came to $3.77 per share.
The results missed Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $5.09 per share.
The online booking service posted revenue of $2.29 billion in the period, beating Street forecasts. Seven analysts surveyed by Zacks expected $2.2 billion.
Booking Holdings shares have dropped 30% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $1,443.91, a decline of 19% in the last 12 months.