Booking (BKNG) Reports Q4: Everything You Need To Know Ahead Of Earnings
Online travel agency Booking Holdings (NASDAQ:BKNG) will be reporting earnings tomorrow after market hours. Here's what investors should know.
Last quarter Booking reported revenues of $7.34 billion, up 21.3% year on year, beating analyst revenue expectations by 1.1%. It was a decent quarter for the company, with revenue and EPS outperforming Wall Street's estimates, driven by better-than-expected gross travel bookings. The company reported 276 million nights booked, up 15% year on year.
Is Booking buy or sell heading into the earnings? Read our full analysis here, it's free.
This quarter analysts are expecting Booking's revenue to grow 16.3% year on year to $4.71 billion, slowing down from the 35.8% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $30.05 per share.
The analysts covering the company have been growing increasingly bullish about the business heading into the earnings, with revenue estimates seeing four upward revisions over the last thirty days. The company only missed Wall St's revenue estimates once over the last two years, and has on average exceeded top line expectations by 2.9%.
Looking at Booking's peers in the consumer internet segment, some of them have already reported Q4 earnings results, giving us a hint of what we can expect. Airbnb delivered top-line growth of 16.6% year on year, beating analyst estimates by 2.5% and Expedia reported revenues up 10.3% year on year, exceeding estimates by 0.3%. Airbnb traded down 4.1% on the results, Expedia was down 7.8%.
Read our full analysis of Airbnb's results here and Expedia's results here.
Investors in the consumer internet segment have had steady hands going into the earnings, with the stocks up on average 1.7% over the last month. Booking is up 6% during the same time, and is heading into the earnings with analyst price target of $3,786.3, compared to share price of $3,701.7.
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