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Booking Holdings: 1Q Earnings Snapshot

May 7, 2020 GMT

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.

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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.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BKNG at https://www.zacks.com/ap/BKNG