Booking Holdings shares are trading higher late Wednesday after the online travel agency posted better-than-expected results for the third quarter—and provided encouraging commentary on the outlook for both its own results and the overall travel sector for the fourth quarter.
Booking (ticker: BKNG) posted third-quarter revenue of $6.1 billion, up 29% from a year ago and above the Street consensus forecast of $5.92 billion. On an adjusted basis, the parent of Priceline, Kayak, OpenTable, and other online services earned $2.1 billion, or $53.03 a share, up 41% from a year ago and ahead of the Street consensus at $49.85 a share. Under generally accepted accounting principles, Booking earned $1.7 billion, or $41.98 a share, up 126% from a year earlier.
Booking Shares Rally on Strong Earnings and an Upbeat Outlook on Travel
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