: Booking Holdings’ stock is down after adjusted Ebitda comes up short of analysts’ consensus estimate
Booking Holdings Inc.’s BKNG stock drooped nearly 6% in extended trading Thursday despite the online travel service posting quarterly results largely in line with analyst revenue and earnings estimates. Booking Holdings reported fiscal first-quarter net earnings of $266 million, or $7 a share, compared with a net loss of $700 million, or $17.10 a share, in the year-ago quarter. Adjusted earnings were $11.60 a share. However, the company’s adjusted Ebitda of $586 million was short of the consensus estimate from analysts of $627 million. Revenue hurtled 40% to $3.78 billion from $2.7 billion a year ago. Analysts surveyed by FactSet had expected on average net earnings of $10.57 a share on revenue of $3.74 billion. Shares of Booking Holdings have soared 29% so far this year, while the broader S&P 500 index SPX is up nearly 6%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.