Booking Holdings Q1 Loss Narrows, Revenue Down 50%

Online travel and related services provider Booking Holdings Inc. (BKNG,PCLN) on Wednesday posted net loss of $55 million or $1.34 per share, compared to net loss of $699 million or $17.01 per share in the previous-year quarter.

The 2021 results included net gains on marketable equity securities of $32 million while the year-ago results include net losses on marketable equity securities of $307 million.

Excluding certain items, net loss was $215 million or $5.26 per share, compared to net income of $156 million or $3.77 per share in the same period last year.

On average, 28 analysts polled by Thomson Reuters expected the company to report net loss of $5.87 per share in the quarter. Analysts' estimates, usually, exclude one-time items.

Total revenues for the quarter fell 50 percent to $1.14 billion from $2.28 billion a year ago while analysts were expecting revenues of $1.17 billion for the three-month period.

Gross travel bookings for the quarter were down 4 percent to $11.9 billion from $12.4 billion in the prior-year period.

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