NEW YORK, Feb 23 (Reuters) – Online travel agency Booking Holdings Inc (BKNG.O) reported a 36% year-over-year increase in fourth-quarter revenue on Thursday, aided by strong travel demand.
The Booking.com and KAYAK operator’s revenue rose to $4 billion for the quarter, exceeding Wall Street’s estimates for $3.89 billion in revenue, according to Refinitiv data.
Gross bookings for the quarter rose 44% from the year-ago period to $27.3 billion, the company said.
“We are encouraged by the continued strength and resiliency of demand from travelers last year and into the new year, which we believe speaks to our consumers’ strong desire to use our platforms when booking their travel,” said Glenn Fogel, Booking’s chief executive officer.
Shares fell 0.8% in extended trading.
Reporting by Doyinsola Oladipo in New York
Our Standards: The Thomson Reuters Trust Principles.
Booking Holdings says quarterly revenue up 36% on strong travel demand
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