NASDAQ$BKNG

Booking Holdings Inc · Q4 2020 earnings

Q4 2020 earnings · · Investor relations

Briefing

Booking Holdings reported a significant decrease in financial results due to the COVID-19 pandemic.

Booking Holdings' Q4 2020 results were significantly impacted by the COVID-19 pandemic, with a 63% decrease in total revenues and a net loss of $165 million. Gross travel bookings decreased by 65% compared to the prior year. However, the CEO expressed confidence in the long-term future and eventual recovery of travel demand.

  • Gross travel bookings decreased by 65% year-over-year to $7.3 billion.
  • Total revenues decreased by 63% year-over-year to $1.2 billion.
  • The company reported a net loss of $165 million, compared to net income of $1.2 billion in Q4 2019.
  • Room nights booked decreased by 60% from the prior year.

Headline financials

Total Revenue

$1.24B

Previous: $3.34B-62.9%
EPS (adj)

-$0.57

Previous: $23.20-102.5%
Room Nights

76.0M

Previous: 191.0M-60.2%
Rental Car Days

8.0M

Previous: 16.0M-50.0%
Airline Tickets

2.0M

Previous: 2.0M+0.0%
Total Gross Bookings

$7.3B

Previous: $20.7B-64.8%
Capital Expenditures

$64M

Previous: $87M-26.4%
Free Cash Flow

-$641M

Previous: $990M-164.7%
Net Income

-$165M

Previous: $1.17B-114.1%
Operating Income

-$153M

Previous: $1.17B-113.1%
Gross Profit

$670M

Previous: $712M-5.9%
Cash & Equivalents

$10.6B

Previous: $6.31B+67.3%
Total Assets

$21.9B

Previous: $21.4B+2.2%

Revenue & EPS history

Booking · Revenue · Quarterly

$1.24B

Q4 2020-62.9%vs Q4 2019
Beat estimate in 11 of 16 quarters(69%)
ActualEstimate

Revenue by segment

Booking · $1.24B total across 3 segments · Q4 2020

  • Agency Revenue
    $810M-61.9%
  • Merchant Revenue
    $376M-60.6%
  • Advertising & Other
    $52M-79.8%

Forward guidance

The travel environment continued to be challenging through the fourth quarter of 2020 and into January 2021 as COVID-19 case counts remained very high and travel restrictions were reimposed in many parts of the world. However, in recent weeks, we have started to see some improvements in booking trends that we will continue to monitor. Looking ahead, I am more confident than ever in our long-term future and in the eventual strong recovery of travel demand. We will continue to focus on what we can control, namely investing in our business and executing against our strategic priorities to ensure we exit this crisis on a strong footing.

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 2020

Historical avgQ4 2020

+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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