5 Companies That Topped Profit Expectations

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1. Booking Holdings Inc. (NASDAQ:BKNG)

Number of Hedge Fund Holders: 92

Booking Holdings Inc. (NASDAQ:BKNG) recently announced record financial results for the fourth quarter. Yet, its shares fell over seven percent on Thursday, February 24, apparently due to investors’ concerns that the Russia-Ukraine war could impact the global travel industry.

The Connecticut-based online travel services provider reported adjusted earnings of $15.83 per share, compared to a loss of 57 cents per share for the same period one year ago. In addition, Booking Holdings Inc. (NASDAQ:BKNG) posted revenue of $3 billion, representing a huge surge of 141 percent over the comparable period of 2020. The results easily topped analysts’ average estimate of at $13.68 per share for earnings and $2.85 billion for revenue.

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Among other updates, Booking Holdings Inc. (NASDAQ:BKNG) reported that gross travel bookings for the quarter climbed 160 percent versus last year $19 billion, while room night booked soared 100 percent on a year-over-year basis.

Speaking on the results, CEO Glenn Fogel said:

“I am encouraged by the meaningful improvement in bookings we have seen so far in the first quarter of 2022. I believe we are well positioned as travel demand recovers, however, we do expect there will still be periods where COVID negatively impacts travel trends as we move through the year.”

You can also take a peek at Billionaire Leon Cooperman Is Buying These 10 Stocks and Top 10 Stock Picks of Thomas Bancroft’s Makaira Partners.

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