Booking Holdings beats fourth-quarter estimates on strong international travel demand
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FILE PHOTO: Booking.com app is seen on a smartphone in this illustration taken February 27, 2022. REUTERS/Dado Ruvic/Illustration/File Photo
(Reuters) - Online travel agency Booking Holdings surpassed analysts' expectation for fourth-quarter profit and revenue on Thursday, helped by booming demand for international travel, sending its shares up about 5% after the bell.
Leisure travel in Europe, the company's largest market, has remained healthy, led by both domestic and long-haul trips from wealthy American travelers.
Demand has also been strong in Asia-Pacific, with destinations in Southeast Asia benefiting from an influx of high-income Chinese tourists after the lifting of some visa restrictions.
The company posted an adjusted profit of $41.55 per share for the quarter ended December 31, compared with analysts' average estimate of $36.03 per share, according to data compiled by LSEG.
Total room nights increased 13% over the year earlier to 261 million during the quarter. It posted gross bookings of $37.2 billion, up about 17% from the year-ago quarter.
The company's total quarterly revenue was $5.47 billion, up about 14% from the year earlier. Analysts, on average, estimated revenue at $5.18 billion.
(Reporting by Aishwarya Jain and Utkarsh Shetti in Bengaluru; Editing by Shilpi Majumdar)
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