The parent company of Kayak exceeded Wall Street’s profit expectations for the final quarter of 2024 on Wednesday, driven by strong international travel demand that pushed shares higher by 2% in after-hours trading.
International travel demand is projected to continue its upward trajectory, boosted by major events like the FIFA World Cup and an uptick in affluent travelers willing to pay more for luxury experiences, creating favorable conditions for companies like Booking Holdings.
The Connecticut-based travel platform reported adjusted earnings of $48.80 per share for the quarter, surpassing analyst predictions of $48.47 per share based on LSEG data.
Looking ahead, the company that owns Kayak anticipates full-year 2026 adjusted earnings growth in the mid-teens percentage range. Management forecasts first-quarter gross bookings to increase between 14% and 16%.
Fourth-quarter gross bookings reached $43 billion, representing a 16% increase compared to the previous year’s corresponding period.
Quarterly revenue totaled $6.35 billion for the period ending December 31, exceeding analyst projections of $6.13 billion.
