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Booking reports Q1 beat, but shares down 3% on EBITDA miss

Published 05/05/2023, 08:40 am
©  Reuters

Booking Holdings (NASDAQ:BKNG) shares fell more than 3% after-hours following the company’s reported Q1 results. While EPS of $11.60 and revenue of $3.8 billion (up 40% year-over-year) came in better than the consensus estimates of $10.67 and $3.76B, respectively, adjusted EBITDA of $586 million missed both the company’s and analysts' expectations.

The company reported an all-time quarterly high for both room nights of 274M and gross bookings of $39.4B, up 38% and 44% year-over-year, respectively.

For Q2, the company expects adjusted EBITDA to be around 35% higher than last year, assuming that room night growth will be up mid-single digits year-over-year.

 

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