Booking reports annual revenue of $14.5B, up 17%

Wednesday, 27. February 2019 22:14

Booking Holdings Inc. reported its total revenues in 2018 were $14.5 billion, as compared to gross profit of $12.4 billion in 2017, a 17% increase from the previous year. For the fourth quarter, the number stood at $3.2 billion, versus $2.8 billion in 2017.

Annual gross travel bookings were $92.7 billion, an 14% increase compared to 2017, and $19.6 in the Q4, up 9% year on year. Net income was $4.4 billion, a 16% increase compared to the prior year, while in the last quarter the income amounted to $646 million.

"2018 was a good year for Booking Holdings as we met many important financial and strategic goals. In 2018, we achieved a new milestone exceeding three-quarters of a billion total booked room nights and produced strong year-over-year growth across our key financial metrics. I am excited about the investments we are making in 2019 as we position the Company for long-term growth," CEO Glenn Fogel said.

The company stock plunged 7.65% during after-hours trading.

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Author:
Breaking the News / MD