NORWALK, Conn. (AP) — NORWALK, Conn. (AP) — Booking Holdings Inc. (BKNG) on Thursday reported first-quarter net income of $266 million, after reporting a loss in the same period a year earlier.
The Norwalk, Connecticut-based company said it had profit of $7 per share. Earnings, adjusted for one-time gains and costs, were $11.60 per share.
The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $10.48 per share.
The online booking service posted revenue of $3.78 billion in the period, also beating Street forecasts. Six analysts surveyed by Zacks expected $3.72 billion.
Booking Holdings shares have climbed 29% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $2,603.57, a rise of 24% in the last 12 months.
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