What Happened:
Shares of online travel agency Booking Holdings (NASDAQ:BKNG) fell 5.86% in the after-market session after The company delivered a strong first quarter on the topline, with gross bookings, all units sold metrics (room nights, airline tickets, rental car days), and revenue ahead of Consensus estimates. However, operating profit missed. Also Management noted April room night growth was up mid-teens, which implies meaningful deceleration. Overall it was a mixed quarter for the company.
What is the market telling us:
Booking's shares are somewhat volatile and over the last year have had 9 moves greater than 5%. In context of that, today's move is indicating the market considers this news meaningful but not something that would fundamentally change its perception of the business.
Booking is up 25.2% since the beginning of the year, and at $2.54 thousand per share it is trading close to its 52-week high of $2.72 thousand from May 2023. Investors who bought $1,000 worth of Booking's shares 5 years ago would now be looking at an investment worth $1,160.
Is now the time to buy Booking? Access our full analysis of the earnings results here, it's free.