Home / Business / Stocks of reservations drop after shortfall, weak forecasts

Stocks of reservations drop after shortfall, weak forecasts

Booking Holdings Inc.

BKNG, -0.51%

Shares fell 6.8% in the broad session on Wednesday, after the online travel company missed revenue forecasts and released lower-than-expected forecasts. The company reported fourth-quarter net income of $ 646 million, or $ 13.86 per share, compared with losses of $ 555 million, or $ 11.41 per share, over the same period last year. 39, previous year. After adjusting for items such as changes in the US tax code and paper losses in its investments, earnings were $ 22.49 per share, compared 86 USD for the quarter of the previous fiscal year. Revenues reached $ 3.21 billion, up from $ 2.8 billion a year ago. Analysts surveyed by FactSet had estimated adjusted earnings at $ 19.39 per share and revenues at $ 3.23 billion. For the first quarter, analysts model an adjusted profit of $ 12.76 per share for a $ 3.17 billion business figure. The company said it expects an adjusted profit of $ 10.90 per share. Reserve stock increased 0.5% over the past year, with the S & P 500 Index

SPX, -0.05%

up 1.8%.

Have the latest news sent to your inbox. Subscribe to free e-mails from the MarketWatch newsletter. Register here.

Source link