Online travel agency Booking Holdings (NASDAQ:BKNG) will be announcing earnings results tomorrow after market close. Here's what you need to know.
Last quarter Booking reported revenues of $5.46 billion, up 27.2% year on year, beating analyst revenue expectations by 5.55%. It was a very good quarter for the company, with a solid beat of analysts' revenue and EPS estimates. The company reported 268 million nights booked, up 8.94% year on year.
Is Booking buy or sell heading into the earnings? Read our full analysis here, it's free.
This quarter analysts are expecting Booking's revenue to grow 20% year on year to $7.26 billion, slowing down from the 29.4% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $67.92 per share.
The analysts covering the company have had mixed opinions about the business heading into the earnings, with revenue estimates seeing five upward and four downward revisions over the last thirty days. The company only missed Wall St's revenue estimates once over the last two years, and has on average exceeded top line expectations by 3.91%.
Looking at Booking's peers in the consumer internet segment, some of them have already reported Q3 earnings results, giving us a hint of what we can expect. Meta delivered top-line growth of 23.2% year on year, beating analyst estimates by 2.03%, and Teladoc reported revenues up 7.99% year on year, missing analyst estimates by 0.43%. Meta traded up 4.8% on the results, and Teladoc was down 4.3%.
Read our full analysis of Meta's results here and Teladoc's results here.
There has been a stampede out of high valuation technology stocks, and while some of the consumer internet stocks have fared somewhat better, they have not been spared, with share price declining 3.56% over the last month. Booking is down 7.4% during the same time, and is heading into the earnings with analyst price target of $3,435.8, compared to share price of $2,788.
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The author has no position in any of the stocks mentioned.