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5,210.92
3.88%
194.49
After Hours:
5200.00
-10.92
-0.21%
Why is Booking Holdings Inc (BKNG) Stock down?
We've noticed a 9.17% decline in Booking Holdings Inc (BKNG) stock during the 2024-08-02 trading session. While this could be attributed to normal volatility or various internal and external factors, please be aware that we are actively monitoring the situation, and we'll provide timely updates as soon as possible!
23 Feb, 2024:
Booking Holdings Inc. (BKNG) stock dropped by 10.15% due to a disappointing forecast for travel reservations and gross bookings, influenced by the Israel war and currency fluctuations.
- Room Nights Booked Growth: Booking forecasts a 4% to 6% growth in room nights booked for the first quarter, and gross bookings to increase slightly faster than 7% for the full year. This outlook, however, fell short of the average analyst estimate of 9.9%.
- Financial Performance and Initiatives: Booking's fourth-quarter revenue grew 18% to $4.78 billion, surpassing analyst expectations. The company also initiated a quarterly dividend of $8.75 per share. CEO Glenn Fogel expressed confidence in the company's position, aiming for accelerated growth compared to pre-pandemic levels in 2019.
- Industry Trends and Outlook: The travel industry continues to face challenges, with Expedia Group Inc. providing a cautious outlook earlier due to lower airline prices and normalization of travel demand. Despite these challenges, Fogel remains optimistic about Booking's future, citing resiliency in global leisure travel demand as the summer season approaches.
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