Booking Holdings 1Q Loss Narrows, Revenue Falls
By Adriano Marchese
Booking Holdings Inc. on Wednesday reported a much-narrowed loss
in the first quarter, despite a fall in revenue in the period.
The travel technology company said loss per share was $1.34,
compared with a loss of $17.01 in the comparable quarter a year
Net loss was $55 million, compared with $699 million a year ago.
The company said that the results for this quarter include net
gains on marketable equity securities of $32 million while the
results for the first quarter of the prior year include net losses
on marketable equity securities of $307 million.
Adjusted loss was $5.26 a share, beating analyst forecasts,
polled on FactSet, anticipating a loss of $5.97.
Revenue fell to $1.14 billion from $2.29 billion.
"We saw encouraging signs of improving booking trends in the
first quarter that continued into April with notable strength in
the U.S.," Chief Executive Officer Glenn Fogel said.
Write to Adriano Marchese at firstname.lastname@example.org
(END) Dow Jones Newswires
May 05, 2021 16:36 ET (20:36 GMT)
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