Booking Holdings shares fall amid unflattering forecast for travel bookings. Bloomberg reports this.
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Growth in room nights booked will be 4% to 6% in the first quarter, Booking said during a conference call following its earnings report on Thursday.
For the full year, the company expects that gross bookings will grow “slightly faster than 7%” as this takes into account the negative impact of exchange rates and war. This compares with the average analyst estimate of 9.9%.
The company's shares fell 10% on Friday, February 23, their biggest one-day drop since March 2020.
Booking also initiated the payment of quarterly dividends in the amount of $8.75 per share. They will be paid on March 28 to shareholders of record on March 8, the company said.
The mixed results add to the concern after rival Expedia Group Inc. earlier this month. gave a gloomy forecast.
