Booking Earnings, Revenue Beat in Q4 Declines Less Than Feared By Investing.com

By Yasin Ebrahim

Booking (NASDAQ:BKNG) reported on Wednesday fourth-quarter results that topped expectations as the pandemic-led hit to bookings was not as bad as feared.

Booking was up 2% following the report.

Booking, the online travel service, announced a loss per share of 57 cents on revenue of $1.24 billion. Analysts polled by Investing.com anticipated a loss of $3.85 a share on revenue of $1.19 billion.

Gross bookings fell 65% and room nights booked decreased 60% from the prior year.

“The travel environment continued to be challenging through the fourth quarter of 2020 and into January 2021 as COVID-19 case counts remained very high and travel restrictions were reimposed in many parts of the world. However, in recent weeks, we have started to see some improvements in booking trends that we will continue to monitor,” said Glenn Fogel, Chief Executive Officer of Booking Holdings.

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