Yahoo Finance Booking (BKNG) Q1 Earnings Report Preview: What To Look For
Online travel agency Booking Holdings (NASDAQ:BKNG) will be reporting results tomorrow after market close. Here's what to expect.
Booking beat analysts' revenue expectations by 1.6% last quarter, reporting revenues of $4.78 billion, up 18.2% year on year. It was a mixed quarter for the company, with solid growth in its bookings but slow revenue growth. It reported 231 million nights booked, up 9.5% year on year.
Is Booking a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting Booking's revenue to grow 12.6% year on year to $4.26 billion, slowing from the 40.2% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $14.14 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Booking has only missed Wall Street's revenue estimates once over the last two years, exceeding top-line expectations by 2.6% on average.
Looking at Booking's peers in the consumer internet segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Meta delivered year-on-year revenue growth of 27.3%, meeting analysts' expectations, and Roku reported revenues up 19%, topping estimates by 3.7%. Meta traded down 10.6% following the results while Roku was also down 10.3%.
Read our full analysis of Meta's results here and Roku's results here.
Stocks--especially those trading at higher multiples--had a strong end of 2023, but 2024 has seen periods of volatility. Mixed inflation signals have led to uncertainty around rate cuts, and while some of the consumer internet stocks have fared somewhat better, they have not been spared, with share prices down 4.4% on average over the last month. Booking is down 3.1% during the same time and is heading into earnings with an average analyst price target of $3,968.5 (compared to the current share price of $3,456.99).
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