Booking Holdings posts revenues at $2.9B, up 25% YoY

Wednesday, 09. May 2018 22:10

Booking Holdings Inc. said on Wednesday its total revenue for the first quarter of fiscal 2018 stood at $2.9 billion, up 25% compared to the same period last year. The company which owns and operates Booking.com, Priceline.com, Agoda.com, Kayak.com, Cheapflights, Rentalcars.com, Momondo, and OpenTable reported net income of $12.34 per diluted share, increasing 35% year-over-year. Net income for the first quarter of 2018 was reported at $607.2 million, marking a 33% increase, compared to last year.

"We are off to a strong start in 2018 with solid top and bottom line results for the first quarter with our performance marketing optimization efforts driving a second consecutive quarter of operating margin expansion," Booking Holdings CEO Glenn Fogel stated.

In after-market trading, the company's stock plunged over 7%.

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Breaking the News / BM