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 per cent 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 per cent over the year earlier to 261 million during the quarter. It posted gross bookings of $37.2 billion, up about 17 per cent from the year-ago quarter.
The company’s total quarterly revenue was $5.47 billion, up about 14 per cent from the year earlier. Analysts, on average, estimated revenue at $5.18 billion.
