Booking Holdings beats profit estimates on strong travel demand

The company benefited from pent-up demand that drove consumers to book flights and hotels despite worries of an imminent recession

May 5, 2023

The company saw a strong start to the year with Q1 room nights and gross bookings reaching its highest quarterly levels ever and both metrics surpassing its previous expectations.

Key takeaways

  • The company reported first-quarter net income of $266 million, after reporting a loss in the same period a year earlier;
  • Room nights booked increased 38% from the prior-year quarter;
  • Total revenues were $3.8 billion, an increase of 40% from the prior-year quarter.

Get the full story at Reuters and Booking Holdings

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