Booking Warns Coronavirus Will Hit Revenue In 1Q

   By Micah Maidenberg

Booking Holdings Inc. said Wednesday it expects revenue in the first quarter to decline 3% to 7% compared with the year earlier as it grapples with fallout from the spread of the coronavirus.

The virus is crimping travel plans from consumers and businesses.

"It is not possible to predict where, and to what degree, outbreaks of the coronavirus will disrupt travel patterns," Booking said. "The guidance for the first quarter is based on the trends observed in the quarter so far and considers the continued negative impact of the coronavirus."

Booking, which operates travel portals like Kayak and Booking.com, predicted net income in the quarter of $7.95 to $8.55 a share.

Gross-travel bookings, after adjusting for currency fluctuations, are expected to drop at least 8%.

Write to Micah Maidenberg at micah.maidenberg@wsj.com

(END) Dow Jones Newswires

February 26, 2020 16:36 ET (21:36 GMT)

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