{"id":34918,"date":"2023-05-04T21:24:34","date_gmt":"2023-05-04T21:24:34","guid":{"rendered":"http:\/\/lynettelockhart.com\/client\/booking-holdings-beats-profit\/"},"modified":"2023-05-04T21:31:16","modified_gmt":"2023-05-04T21:31:16","slug":"booking-holdings-beats-profit","status":"publish","type":"post","link":"http:\/\/lynettelockhart.com\/client\/booking-holdings-beats-profit\/","title":{"rendered":"Booking Holdings beats profit estimates on strong travel demand"},"content":{"rendered":"<p>(Reuters) &#8211;     Booking Holdings Inc reported a better-than-expected profit for the first quarter on Thursday, as the online travel agency benefited from pent-up demand that drove consumers to book flights and hotels despite worries of an imminent recession. <\/p>\n<p>Shares of the company rose 1% to $2,630.5 after the bell.<\/p>\n<p>Major players in the hospitality industry in the last few quarters have gained from flexible work arrangements and a strong U.S. dollar which has helped them offset high labor and maintenance costs. <\/p>\n<p>&#8220;We saw a strong start to the year with first-quarter room nights and gross bookings reaching our highest quarterly levels ever and both metrics surpassing our previous expectations,&#8221; said Chief Executive Glenn Fogel. <\/p>\n<p>While experts in the industry largely remain confident about demand in the near-term, high inflation and concerns around a potential slowdown, however, threaten consumer spending. <\/p>\n<p>Last month, U.S. hotel operator Hilton Worldwide Holdings Inc signaled signs of travel demand weakening in the second half of the year after it raised its full-year profit outlook. <\/p>\n<p>Booking reported an adjusted profit of $11.60 per share in the quarter ended March 31, compared to analysts&#8217; estimate of $10.61 per share, as per Refinitiv data.<\/p>\n<p>Its revenues rose 40% to $3.78 billion, in line with estimates of $3.77 billion.<\/p>\n<p \/>\n<p> (Reporting by Priyamvada C and Aishwarya Nair in Bengaluru; Editing by Maju Samuel and Shailesh Kuber)<\/p>\n<p><a href=\"http:\/\/lynettelockhart.com\/client\/booking-holdings-beats-profit\/file-photo-sunglasses-with-the-logo-of-booking-com-are-seen\/\"><img decoding=\"async\" src=\"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportBusinessNews\/tagreuters.com2023binary_LYNXMPEJ430WN-VIEWIMAGE.jpg\" alt=\"tagreuters.com2023binary_LYNXMPEJ430WN-VIEWIMAGE\"><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Reuters) &#8211; Booking Holdings Inc reported a better-than-expected profit for the first quarter on Thursday, as the online travel agency benefited from pent-up demand that drove consumers to book flights and hotels despite worries of an imminent recession. Shares of the company rose 1% to $2,630.5 after the bell. Major players in the hospitality industry [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":34919,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[1213],"tags":[],"class_list":["post-34918","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-u-s-business"],"jetpack_featured_media_url":"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportBusinessNews\/tagreuters.com2023binary_LYNXMPEJ430WN-VIEWIMAGE.jpg","_links":{"self":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/34918","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/comments?post=34918"}],"version-history":[{"count":1,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/34918\/revisions"}],"predecessor-version":[{"id":34920,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/34918\/revisions\/34920"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media\/34919"}],"wp:attachment":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media?parent=34918"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/categories?post=34918"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/tags?post=34918"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}