Booking Holdings, Inc. (BKNG) shares information
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The pandemic causes significant drop for Booking shares
Saturday, 17 October 2020 00:51
Glenn Fogel, the CEO of Booking Holdings, is one of the top practitioners pushing for the government, through Congress to provide support to the airline industry. This is not the only issue that Glenn Fogel has to deal with. In September, Booking Holdings suffered a 10.5% drop in the price of their shares. The decline can be attributed to the harsh effects of the pandemic. By October 5th, the stocks had gone further down up to 17.5%. Regardless, the stocks are still up by around 50% from the lowest point it experienced earlier in March. The company also recently announced the closure of five of its offices in the US, England, Canada and Croatia
Booking Holdings, Inc. Misses Projected Q1 Earnings
Friday, 8 May 2020 16:15
Booking shares continue to drop around 2% in early trading on May the 7th. Booking Holdings, Inc. released its Q1 earnings for 2020 on May 7th, and reported non-GAAP earnings of $3.77 for each share. The earnings reported this year missed the Zacks Consensus Estimate by around 25.9%. Additionally, the company experienced a decline of 66.2% and 83.8% Y/Y (year over year) & sequentially respectively.
Incomes of $2.29 billion exceeded the Consensus Estimate by close to 3.9%. On the other hand, there was a reduction of 17% on a constant currency basis and 19% on a reported basis. Additionally, its top line reduced by 31.5% from Q4 of 2019.
COVID-19 (coronavirus) global pandemic continued to act as the companys biggest headwind for Q1. The pandemic brought about economic lockdowns which greatly impacted its ability to successfully run its operations.
The social distancing caused by the coronavirus which became rampant in the 1st quarter also led to a surge in bookings cancellations, especially from the period after mid-March. Advertising, agency, and other businesses all displayed a weakened ability to perform in the period in question. The worst part is probably still not over yet for Booking Holdings, that are facing a troublesome summer in 2020.