Posted 2/23/2024, 9:19:02 PM
Booking Holdings Shares Drop 10% as Company Forecasts Slower Growth in Travel Bookings
- Booking Holdings shares fell 10% after giving disappointing forecast for travel bookings and room night growth
- Company expects gross bookings to increase 7% in 2023, below analyst estimates of 9.9%
- Booking has bigger exposure to Europe and Middle East compared to peers, making it a barometer of global travel
- Revenue grew 18% to $4.78 billion, topping estimates; earnings also slightly above projections
- CEO says demand remains resilient but war in Israel, currency fluctuations weighing on near-term outlook