Booking's Q3 revenue at $2.64B, down 47.6% YoY

Thursday, 05. November 2020 22:03

Booking Holdings Inc. announced on Thursday that its revenues plunged 47.6% year-over-year to land at $2.64 billion in the third fiscal quarter. The company's net income dipped 86.7% on an annual basis to $315 million, translating to diluted earnings per share of $19.49.

Meanwhile, operating expenses were at $2.32 billion in the three months ending September, falling 13% from the same period last year.

"We were pleased to see positive third quarter results, which we believe benefited greatly from some lifting of government lock-downs and the release of pent-up demand created by the almost complete cessation of travel during parts of the second quarter," Booking CEO Glenn Fogel said in a statement.

More to come...

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Author:
Breaking the News / GA