Why Booking Holdings Is Up More Than 4% Thursday
Overcoming the bigger bearish tide that's shellacking most stocks, Booking Holdings (NASDAQ: BKNG) shares are higher by 4.1% as of 12:16 p.m. ET today, according to data from S&P Global Market Intelligence. The bullishness is in response to an earnings beat coupled with an optimistic outlook for summertime travel.
Booking Holdings turned $2.7 billion worth of revenue into an operating profit of $3.90 per share for the three-month stretch ending in March. That top line is 136% better than the year-ago tally -- when travel demand was still crimped by the COVID-19 pandemic -- and earnings swung from a loss of $5.26. Moreover, those figures are better than analysts' expectations for the company's fiscal first quarter.
Image source: Getty Images.
Source Fool.com
