NORWALK, Conn. (AP) — NORWALK, Conn. (AP) — Booking Holdings Inc. (BKNG) on Tuesday reported first-quarter net income of $333 million.
The Norwalk, Connecticut-based company said it had profit of $10.07 per share. Earnings, adjusted for non-recurring costs, were $24.81 per share.
The results exceeded Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $17.25 per share.
The online booking service posted revenue of $4.76 billion in the period, which also topped Street forecasts. Eleven analysts surveyed by Zacks expected $4.6 billion.
Booking Holdings shares have fallen 1% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $4,909.96, a rise of 40% in the last 12 months.
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