Booking Holdings tops Q1 profit estimates
The higher-than-expected room night growth was driven by healthy demand with better-than-expected performance in Europe
Travelers are flocking to international destinations in Asia and the Middle East as global air connectivity improves and drives up international travel demand, which is expected to remain strong this year even as demand for domestic travel in North America plateaus.
Key takeaways
- Gross travel bookings were at $43.5 billion, an increase of 10% from last year, while room nights booked increased 9%;
- Total quarterly revenue was $4.41 billion, up 17% from a year earlier. Analysts on average were expecting a revenue of $4.25 billion;
- Shares of the online travel agency were up 5.25% after the bell.
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