Booking Holdings: 4Q Earnings Snapshot
NORWALK, Conn. (AP) _ Booking Holdings Inc. (BKNG) on Wednesday reported a fourth-quarter loss of $165 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Norwalk, Connecticut-based company said it had a loss of $4.02. Losses, adjusted for non-recurring costs, were 57 cents per share.
The results surpassed Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for a loss of $5.08 per share.
The online booking service posted revenue of $1.24 billion in the period, also exceeding Street forecasts. Ten analysts surveyed by Zacks expected $1.17 billion.
For the year, the company reported profit of $59 million, or $1.44 per share. Revenue was reported as $6.8 billion.
Booking Holdings shares have risen almost 10% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $2,443.50, an increase of 36% in the last 12 months.