Earnings To Watch: Booking (BKNG) Reports Q3 Results Tomorrow

Kayode Omotosho /
2022/11/01 4:01 am EDT

Online travel agency Booking Holdings (NASDAQ:BKNG) will be announcing earnings results tomorrow after market hours. Here's what you need to know.

Last quarter Booking reported revenues of $4.29 billion, up 98.7% year on year, missing analyst expectations by 1.28%. It was a solid quarter for the company, with an exceptional revenue growth and growing number of users. The company reported 246 million nights booked, up 56.6% 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 26.6% year on year to $5.91 billion, slowing down from the 77.1% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $49.85 per share.

Booking Total Revenue

The analysts covering the company have had mixed opinions about the business heading into the earnings, with revenue estimates seeing four upward and three downward revisions over the last thirty days. The company missed Wall St's revenue estimates twice over the last two years.

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. Snap delivered top-line growth of 5.71% year on year, missing analyst estimates by 0.91% and Pinterest reported revenues up 8.15% year on year, exceeding estimates by 2.68%. Snap traded down 21.5% on the results, Pinterest was up 15.3%. Read our full analysis of Snap's results here and Pinterest's results here.

Investors in the consumer internet segment have had steady hands going into the earnings, with the stocks up on average 1.43% over the last month. Booking is up 11.2% during the same time, and is heading into the earnings with analyst price target of $2,331.30, compared to share price of $1,868.01.

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The author has no position in any of the stocks mentioned.