Booking Holdings Posts Lower 3Q Profit, Sales on Curbed Travel Demand

By Kimberly Chin

Booking Holdings Inc. reported lower profit and sales as it missed out on the typically lucrative summer season due to the decimation in global travel during the Covid-19 pandemic.

The online-travel agency, which operates sites like Booking.com, Kayak and OpenTable, posted a profit of $801 million, or $19.49 a share, compared with $1.95 billion, or $45.54 a share, a year earlier. Adjusted earnings were $12.27 a share. Analysts polled by FactSet expected a profit of $13.85 a share and $14.36 a share on an adjusted basis.

Revenue decreased to $2.64 billion from $5.04 billion in last year's third quarter on lower merchant, advertising and other revenues. Analysts were expecting $2.55 billion.

Write to Kimberly Chin at kimberly.chin@wsj.com

(END) Dow Jones Newswires

November 05, 2020 16:30 ET (21:30 GMT)

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