NASDAQ$BKNG

Booking Holdings Inc · Q4 2019 earnings

Q4 2019 earnings · · Investor relations

Briefing

Booking's fourth quarter results for 2019 were announced, revealing a revenue increase of 4% and a net income surge of 81% compared to the previous year.

Booking Holdings reported a 4% increase in revenue, reaching $3.3 billion, and an 81% increase in net income, amounting to $1.2 billion for the fourth quarter of 2019. The company's gross travel bookings increased by 6% to $20.7 billion, and room nights booked increased by 12%.

  • Gross travel bookings increased by 6% to $20.7 billion.
  • Total revenues increased by 4% to $3.3 billion.
  • Net income increased by 81% to $1.2 billion.
  • Room nights booked increased by 12%.

Headline financials

Total Revenue

$3.34B

Previous: $3.21B+3.9%
EPS (adj)

$23.20

Previous: $22.49+3.2%
Room Nights

191.0M

Previous: 171.0M+11.7%
Rental Car Days

16.0M

Previous: 15.0M+6.7%
Airline Tickets

2.0M

Previous: 2.0M+0.0%
Total Gross Bookings

$20.7B

No prior period
Capital Expenditures

$87M

Previous: $86M+1.2%
Free Cash Flow

$990M

Previous: $998M-0.8%
Net Income

$1.17B

Previous: $646M+81.3%
Operating Income

$1.17B

Previous: $1.14B+2.5%
Gross Profit

$712M

Previous: $1.13B-36.7%
Cash & Equivalents

$6.31B

Previous: $2.62B+140.5%
Total Assets

$21.4B

Previous: $22.7B-5.7%

Revenue & EPS history

Booking · Revenue · Quarterly

$3.34B

Q4 2019+3.9%vs Q4 2018
Beat estimate in 12 of 16 quarters(75%)
ActualEstimate

Revenue by segment

Booking · $3.34B total across 3 segments · Q4 2019

  • Agency Revenue
    $2.13B
  • Merchant Revenue
    $955M
  • Advertising & Other
    $258M

Forward guidance

Due to the coronavirus, Booking Holdings expects a year-over-year decline in room nights booked, total gross travel bookings, and revenues for Q1 2020. The guidance ranges are wider than typically provided given the high level of uncertainty in forecasting the coronavirus and its associated impact on the Company and the travel industry generally.

Headwinds

  • Year-over-year decline - Room nights booked (10)% - (5)%
  • Year-over-year decline - Total gross travel bookings (15)% - (10)%
  • Year-over-year decline - Total gross travel bookings (constant currency) (13)% - (8)%
  • GAAP Year-over-year decline - Revenues (7)% - (3)%
  • Non-GAAP Year-over-year decline - Revenues (9)% - (5)%

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2019

Historical avgQ4 2019

+1.4%

Avg return

Earnings day

-0.0%

Avg return

5 days after

+2.2%

Avg return

30 days after

57%

40 / 70 earnings

Positive

+26.9%

Q4 2009

Best reaction

-15.5%

Q2 2012

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+3.6%-4.5%-3.5%
Q4 2025-5.7%-4.7%+1.3%
Q3 2025-4.4%-1.8%-4.0%
Q2 2025+0.4%-2.1%+0.1%
Q1 2025+3.9%+5.7%+12.4%
Q4 2024-0.5%+0.3%-8.0%
Q3 2024+5.6%+7.9%+17.5%
Q2 2024-10.4%-8.0%+5.2%
Q1 2024+4.7%+5.6%+10.6%
Q4 2023-6.3%-7.0%-3.1%
Q3 2023+3.3%+8.9%+14.2%
Q2 2023+6.2%+11.8%+8.0%
Q1 2023-2.9%-0.4%-0.8%
Q4 2022+1.1%+4.0%+3.0%
Q3 2022-3.4%-2.9%+10.4%
Q2 2022-0.5%-0.0%-6.1%
Q1 2022+3.1%-3.9%+10.9%
Q4 2021-8.9%-13.7%-10.7%
Q3 2021-0.7%+7.6%-13.8%
Q2 2021+3.2%+0.9%+7.7%
Q1 2021-4.3%-5.0%-2.8%
Q4 2020-3.7%-1.6%-1.5%
Q3 2020+4.1%+17.2%+24.0%
Q2 2020+1.7%+4.7%+11.2%
Q1 2020+3.8%+0.5%+31.5%
Q4 2019-3.9%+0.1%-27.3%
Q3 2019-6.6%-6.8%-4.1%
Q2 2019+8.6%+7.3%+10.1%
Q1 2019+4.5%+2.4%+1.5%
Q4 2018-11.4%-10.9%-8.9%
Q3 2018+4.0%+3.3%-0.6%
Q2 2018-7.2%-10.3%-7.0%
Q1 2018-3.8%-4.1%-1.2%
Q4 2017+6.7%+6.7%+9.2%
Q3 2017-13.1%-10.4%-9.3%
Q2 2017-6.7%-9.2%-9.7%
Q1 2017-4.2%-4.5%-0.6%
Q4 2016+5.7%+6.3%+9.4%
Q3 2016+10.8%+8.2%+7.2%
Q2 2016+3.1%+2.6%+3.8%
Q1 2016-8.4%
Q4 2015+12.7%
Q3 2015-8.7%
Q2 2015+5.3%
Q1 2015-4.7%
Q4 2014+8.3%
Q3 2014-8.6%
Q2 2014+1.0%
Q1 2014+0.4%
Q4 2013+3.3%
Q3 2013+1.4%
Q2 2013+4.6%
Q1 2013+4.1%
Q4 2012+3.6%
Q3 2012+10.6%
Q2 2012-15.5%
Q1 2012-4.9%
Q4 2011+7.2%
Q3 2011+7.7%
Q2 2011+4.5%
Q1 2010-0.9%
Q1 2011+2.0%
Q1 2009-1.8%
Q4 2008-1.8%
Q4 2010-1.8%
Q3 2010+7.8%
Q3 2009+7.8%
Q2 2010+26.9%
Q2 2009+26.9%
Q4 2009+26.9%

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