abrooklyn
1 년 전
https://s201.q4cdn.com/865305287/files/doc_financials/2023/q3/BKNG-Q3-2023-Earnings-Release.pdf
Booking Holdings Reports Financial Results for 3rd Quarter 2023
NORWALK, CT – November 2, 2023. . . Booking Holdings Inc. (NASDAQ: BKNG) (the "Company," "we," "our," or "us") today reported its third quarter 2023 financial results:
•
• Room nights booked increased 15% from the prior-year quarter.
24% from
Gross travel bookings, which refers to the total dollar value, generally inclusive of taxes and fees, of all
travel services booked by our customers, net of cancellations, were $39.8 billion, an increase of
21%
• Total revenues were $7.3 billion, an increase of 21% from the prior-year quarter (approximately an 18%
the prior-year quarter (approximately a
increase on a constant-currency basis).
increase on a constant-currency basis).
• Net income was $2.5 billion, an increase of 51% from the prior-year quarter.
• Net income per diluted common share was $69.80, an increase of 66% from the prior-year quarter.
• Non-GAAP net income was $2.6 billion, an increase of 24% from the prior-year quarter.
• Non-GAAP net income per diluted common share was $72.32, an increase of 36% from the prior-year quarter.
• Adjusted EBITDA was $3.3 billion, an increase of 24% from the prior-year quarter.
The section below under the heading "Non-GAAP Financial Measures" provides definitions and information about the use of non-GAAP financial measures in this press release, and the attached financial and statistical supplement reconciles non-GAAP financial results with Booking Holdings' financial results under GAAP.
"We are pleased to report record quarterly room nights, gross bookings, revenue, and net income driven by a strong summer travel season," said Glenn Fogel, Chief Executive Officer of Booking Holdings. "We are encouraged by the resilience of leisure travel demand, and we remain focused on executing against our key strategic priorities, which helps position our business well for the long term."
1
Non-GAAP Financial Measures
The Unaudited Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") and include all normal and recurring adjustments that management of the Company considers necessary for a fair presentation of its financial position and operating results.
To supplement the Unaudited Consolidated Financial Statements, the Company uses the following non-GAAP financial measures: adjusted EBITDA, non-GAAP net income (loss), non-GAAP net income (loss) per diluted common share and free cash flow (net cash provided by (used in) operating activities less capital expenditures). The presentation of non-GAAP financial information should not be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP.
The Company uses non-GAAP financial measures for financial and operational decision-making and as a basis to evaluate performance and set targets for employee compensation programs. The Company believes that these non- GAAP financial measures are useful for analysts and investors to evaluate the Company's ongoing operating performance because they facilitate comparison of the Company's results for the current period and projected next- period results to those of prior periods and to those of its competitors (though other companies may calculate similar non-GAAP financial measures differently from those calculated by the Company). These non-GAAP financial measures, in particular adjusted EBITDA, non-GAAP net income (loss) and free cash flow, are not intended to represent funds available for Booking Holdings' discretionary use and are not intended to represent or to be used as a substitute for operating income (loss), net income (loss) or net cash provided by (used in) operating activities as measured under GAAP. The items excluded from these non-GAAP measures, but included in the calculation of their closest GAAP equivalent, are significant components of the Company's consolidated statements of operations and cash flows and must be considered in performing a comprehensive assessment of overall financial performance.
Non-GAAP net income (loss) is net income (loss) with the following adjustments:
• excludes accruals related to settlements of certain indirect tax matters,
• excludes the termination fee related to an acquisition agreement,
• excludes significant losses on assets classified as held for sale,
• excludes significant gains and losses on sale and leaseback transactions,
• excludes gains and losses on equity securities with readily determinable fair values,
• excludes the impact, if any, of significant gains and losses on the sale of and impairment and credit losses
on investments in available-for-sale debt securities and significant gains and losses on the sale of and impairment and other valuation adjustments on investments in equity securities without readily determinable fair values,
• excludes foreign currency transaction gains and losses on the remeasurement of Euro-denominated debt and accrued interest that are not designated as hedging instruments for accounting purposes and debt- related foreign currency derivative instruments used as economic hedges,
• excludes amortization expense of intangible assets,
• excludes interest received on tax payments refunded pursuant to settlement with authorities,
• excludes the impact of net unrecognized tax benefits related to certain income tax matters, and
• the income tax impact of the non-GAAP adjustments mentioned above and changes in tax estimates, as
applicable.
In addition to the adjustments listed above regarding non-GAAP net income (loss), adjusted EBITDA excludes depreciation expense, interest expense, and to the extent not included in the adjustments listed above, interest and dividend income, and income tax expense (benefit). In the event the Company reports a GAAP net income but a non-GAAP net loss, dilutive shares that are included in the GAAP weighted-average number of diluted common shares outstanding are excluded from the non-GAAP weighted-average number of diluted common shares outstanding. In the event the Company reports a GAAP net loss but a non-GAAP net income, anti-dilutive shares that are excluded from the GAAP weighted-average number of diluted common shares outstanding are included in the non-GAAP weighted-average number of diluted common shares outstanding.
We evaluate certain operating and financial measures on both an as-reported and constant-currency basis. We calculate constant currency by converting our current-year period results for transactions recorded in currencies
2
other than U.S. Dollars using the corresponding prior-year period monthly average exchange rates rather than the current-year period monthly average exchange rates.
The attached financial and statistical supplement includes reconciliations of our financial results under GAAP to non-GAAP financial information for the three and nine months ended September 30, 2023 and 2022. We are not able to provide a reconciliation between forward-looking adjusted EBITDA and GAAP net income (loss) because we cannot predict certain components of such reconciliation without unreasonable effort as they arise from events in future periods.
Information About Forward-Looking Statements
This press release contains forward-looking statements, which reflect the views of the Company's management regarding current expectations based on currently available information about future events. Forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties, such as: adverse changes in market conditions for travel services; the effects of competition; the Company's ability to manage growth and expand; the adverse impact of the COVID-19 pandemic; adverse changes in relationships with third parties on which the Company depends; success of the Company's marketing efforts; rapid technological and other market changes; the Company's ability to attract and retain qualified personnel; changes in the presentation of travel search results and the auctions for search placement; impacts of impairments and changes in accounting estimates; and other business and industry changes. Other risks and uncertainties relate to cyberattacks and information security; tax, legal, and regulatory risks; the Company's facilitation of payments; foreign currency exchange rates; financial risks relating to the Company's debt levels and stock price volatility; and the success of the Company's investments and acquisition strategy. For a detailed discussion of these and other risk factors that could cause the Company's actual results to differ materially from those described in the forward-looking statements included in this press release, refer to the Company's most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission and any subsequently filed Quarterly Reports on Form 10-Q. Unless required by law, the Company undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events, or otherwise.
We will be posting our prepared remarks to the Booking Holdings investor relations website after the conclusion of the earnings call.
About Booking Holdings Inc.
Booking Holdings (NASDAQ: BKNG) is the world's leading provider of online travel and related services, provided to consumers and local partners in more than 220 countries and territories through six primary consumer- facing brands: Booking.com, Priceline, Agoda, Rentalcars.com, KAYAK and OpenTable. The mission of Booking Holdings is to make it easier for everyone to experience the world. For more information, visit BookingHoldings.com and follow us on X (formerly known as Twitter) @BookingHoldings.
###
For Press Information: Leslie Cafferty communications@bookingholdings.com
For Investor Relations: John Longstreet ir@bookingholdings.com #BKNG_Earnings
3
Booking Holdings Inc. CONSOLIDATED BALANCE SHEETS (In millions, except share and per share data)
September 30, 2023
December 31, 2022
(Unaudited)
ASSETS
Current assets:
Cash and cash equivalents $ 13,294 $ 12,221
Short-term investments (Available-for-sale debt securities:
Amortized cost of $632 and $176, respectively) 624 175
Accounts receivable, net (Allowance for expected credit losses of $116 and $117,
respectively) 3,447 2,229
Prepaid expenses, net 680 477
Other current assets 434 696
Total current assets 18,479 15,798
Property and equipment, net 733 669
Operating lease assets 643 645
Intangible assets, net 1,660 1,829
Goodwill 2,804 2,807
Long-term investments (Includes available-for-sale debt securities:
Amortized cost of $576 at December 31, 2022) 420 2,789
Other assets, net 896 824
Total assets $ 25,635 $ 25,361
LIABILITIES AND STOCKHOLDERS' (DEFICIT) EQUITY
Current liabilities:
Accounts payable $ 3,020 $ 2,507
Accrued expenses and other current liabilities 4,182 3,244
Deferred merchant bookings 3,717 2,223
Short-term debt 1,913 500
Total current liabilities 12,832 8,474
Deferred income taxes 350 685
Operating lease liabilities 547 552
Long-term U.S. transition tax liability 515 711
Other long-term liabilities 160 172
Long-term debt 11,856 11,985
Total liabilities 26,260 22,579
Commitments and contingencies
Stockholders' (deficit) equity:
Common stock, $0.008 par value,
Authorized shares: 1,000,000,000
Issued shares: 64,032,162 and 63,780,528, respectively — —
Treasury stock: 28,843,826 and 25,917,558 shares, respectively (38,944) (30,983)
Additional paid-in capital 6,996 6,491
Retained earnings 31,608 27,541
Accumulated other comprehensive loss (285) (267)
Total stockholders' (deficit) equity (625) 2,782
Total liabilities and stockholders' (deficit) equity $ 25,635 $ 25,361
4
Booking Holdings Inc.
UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS (In millions, except share and per share data)
Three Months Ended September 30,
2023 2022
Nine Months Ended September 30,
2023 2022
Merchant revenues $ 3,945 $ 2,614 $ 8,467 $ 5,413
Agency revenues 3,135 3,203 7,346 6,954
Advertising and other revenues 261 235 768 674
Total revenues 7,341 6,052 16,581 13,041
Operating expenses:
Marketing expenses 2,022 1,795 5,340 4,679
Sales and other expenses 723 540 1,931 1,344
Personnel, including stock-based compensation of $128, $101,
$369, and $302, respectively 788 636 2,262 1,867
General and administrative 387 262 980 627
Information technology 187 129 468 400
Depreciation and amortization 129 109 370 327
Restructuring, disposal, and other exit activities 2 (2) 4 40
Total operating expenses 4,238 3,469 11,355 9,284
Operating income 3,103 2,583 5,226 3,757
Interest expense (254) (102) (689) (246)
Other income (expense), net 300 (305) 533 (1,040)
Income before income taxes 3,149 2,176 5,070 2,471
Income tax expense 638 510 1,003 648
Net income $ 2,511 $ 1,666 $ 4,067 $ 1,823
Net income applicable to common stockholders per basic common
share $ 70.62 $ 42.10 $ 111.09 $ 45.20
Weighted-average number of basic common shares outstanding (in
000's) 35,570 39,564 36,615 40,326
Net income applicable to common stockholders per diluted common
share $ 69.80 $ 41.98 $ 110.02 $ 45.00
Weighted-average number of diluted common shares outstanding (in
000's) 35,987 39,671 36,971 40,504
5
Booking Holdings Inc.
UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS (In millions)
Nine Months Ended September 30,
2023 2022
OPERATING ACTIVITIES:
Net income $ 4,067 $ 1,823
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization 370 327
Provision for expected credit losses and chargebacks 224 179
Deferred income tax benefit (409) (246)
Net losses on equity securities 151 1,142
Stock-based compensation expense and other stock-based payments 369 302
Operating lease amortization 120 117
Unrealized foreign currency transaction gains related to Euro-denominated debt (2) (70)
Other 3 40
Changes in assets and liabilities:
Accounts receivable (1,506) (1,358)
Prepaid expenses and other current assets 96 (424)
Deferred merchant bookings and other current liabilities 2,644 3,591
Long-term assets and liabilities (129) (1,042)
Net cash provided by operating activities 5,998 4,381
INVESTING ACTIVITIES:
Purchase of investments (12) (751)
Proceeds from sale and maturity of investments 1,785 30
Additions to property and equipment (251) (293)
Other investing activities 3 (14)
Net cash provided by (used in) investing activities 1,525 (1,028)
FINANCING ACTIVITIES:
Proceeds from the issuance of long-term debt 1,893 —
Payment on maturity of debt (500) (1,102)
Payments for repurchase of common stock (7,889) (4,278)
Proceeds from exercise of stock options 122 7
Other financing activities (45) (3)
Net cash used in financing activities (6,419) (5,376)
Effect of exchange rate changes on cash and cash equivalents and restricted cash and
cash equivalents (29) (83)
Net increase (decrease) in cash and cash equivalents and restricted cash and cash
equivalents 1,075 (2,106)
Total cash and cash equivalents and restricted cash and cash equivalents, beginning of
period 12,251 11,152
Total cash and cash equivalents and restricted cash and cash equivalents, end of period $ 13,326 $ 9,046
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash paid during the period for income taxes $ 1,573 $ 501
Cash paid during the period for interest $ 557 $ 240
6
Booking Holdings Inc.
UNAUDITED RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL INFORMATION (In millions, except share and per share data) (1)
RECONCILIATION OF NET INCOME TO ADJUSTED EBITDA
Three Months Ended September 30,
2023 2022
Nine Months Ended September 30,
2023 2022
Net income $ 2,511 $ 1,666 $ 4,067 $ 1,823
(a) Accrualsrelatedtosettlementsofindirecttaxmatters — — 62 —
(b) Terminationfeerelatedtoanacquisitionagreement 90 — 90 —
(c) Depreciation and amortization 129 109 370 327
(d) Lossonassetsclassifiedasheldforsale — — — 36
(c) Interest and dividend income (289) (61) (783) (88)
(c) Interest expense 254 102 689 246
(e) Net (gains) losses on equity securities (16) 336 151 1,142
(f) Foreign currency transaction gains on the remeasurement of
certain Euro-denominated debt and accrued interest and debt-
related foreign currency derivative instruments (36) (2) (2) (80)
(c) Income tax expense 638 510 1,003 648
Adjusted EBITDA $ 3,284 $ 2,658 $ 5,648 $ 4,054
Net income as a % of Total Revenues 34.2 % 27.5 % 24.5 % 14.0 %
Adjusted EBITDA as a % of Total Revenues 44.7 % 43.9 % 34.1 % 31.1 %
RECONCILIATION OF NET INCOME TO NON-GAAP NET INCOME AND NON-GAAP NET INCOME APPLICABLE TO COMMON STOCKHOLDERS PER DILUTED COMMON SHARE
Three Months Ended September 30,
2023 2022
Nine Months Ended September 30,
2023 2022
Net income $ 2,511 $ 1,666 $ 4,067 $ 1,823
(a) Accrualsrelatedtosettlementsofindirecttaxmatters — — 62 —
(b) Terminationfeerelatedtoanacquisitionagreement 90 — 90 —
(d) Lossonassetsclassifiedasheldforsale — — — 36
(e) Net(gains)lossesonequitysecurities (16) 336 151 1,142
(f) Foreign currency transaction gains on the remeasurement of
certain Euro-denominated debt and accrued interest and debt-
related foreign currency derivative instruments (36) (2) (2) (80)
(g) Amortizationofintangibleassets 55 55 166 167
(h) Interestreceivedonrefundedtaxpayments — — (31) —
(i) Net unrecognized tax benefits related to French income tax
matters — 125 — 125
(j) Tax impact of Non-GAAP adjustments (4) (76) (71) (173)
Non-GAAP Net income $ 2,602 $ 2,104 $ 4,433 $ 3,041
GAAP and Non-GAAP weighted-average number of diluted
common shares outstanding (in 000's) 35,987 39,671 36,971 40,504
Net income applicable to common stockholders per diluted
common share $ 69.80 $ 41.98 $ 110.02 $ 45.00
Non-GAAP Net income applicable to common stockholders per
diluted common share $ 72.32 $ 53.03 $ 119.92 $ 75.07
7
RECONCILIATION OF NET CASH PROVIDED BY OPERATING ACTIVITIES Nine Months Ended TO FREE CASH FLOW September 30,
2023 2022
(1) Amounts may not total due to rounding.
Notes:
(a) Accruals related to settlements of certain indirect tax matters are recorded in General and administrative expenses and
excluded from Net income to calculate Non-GAAP Net income and Adjusted EBITDA.
(b) Termination fee related to the acquisition agreement for the Etraveli Group is recorded in General and administrative expenses and excluded from Net income to calculate Non-GAAP Net income and Adjusted EBITDA.
(c) Amounts are excluded from Net income to calculate Adjusted EBITDA.
(d) Loss on assets classified as held for sale is recorded in Restructuring, disposal, and other exit activities and excluded
from Net income to calculate Non-GAAP Net income and Adjusted EBITDA.
(e) Net (gains) losses on equity securities with readily determinable fair values and impairments of investments in equity securities are recorded in Other income (expense), net and excluded from Net income to calculate Non-GAAP Net income and Adjusted EBITDA.
(f) Foreign currency transaction gains on the remeasurement of Euro-denominated debt and accrued interest that are not designated as hedging instruments for accounting purposes and debt-related foreign currency derivative instruments used as economic hedges are recorded in Other income (expense), net and excluded from Net income to calculate Non- GAAP Net income and Adjusted EBITDA.
(g) Amortization of intangible assets is recorded in Depreciation and amortization expenses and excluded from Net income to calculate Non-GAAP Net income.
(h) Interest received on tax payments refunded pursuant to settlement with authorities is recorded in Other income (expense), net and Income tax expense, as applicable, and excluded from Net income to calculate Non-GAAP Net income.
(i) Net unrecognized tax benefits related to French income tax matters is recorded in Income tax expense and excluded from Net income to calculate Non-GAAP Net income.
(j) Reflects the tax impact of Non-GAAP adjustments above and changes in tax estimates which are excluded from Net income to calculate Non-GAAP Net income.
(k) Cash used for additions to property and equipment is included in the calculation of Free cash flow.
For a more detailed discussion of the adjustments described above, please see the section in this press release under the heading "Non-GAAP Financial Measures" which provides definitions and information about the use of non-GAAP
abrooklyn
1 년 전
https://s201.q4cdn.com/865305287/files/doc_financials/2023/q2/BKNG-Q2-2023-Earnings-Release.pdf
Booking Holdings Reports Financial Results for 2nd Quarter 2023
NORWALK, CT – August 3, 2023. . . Booking Holdings Inc. (NASDAQ: BKNG) (the "Company," "we," "our," or "us") today reported its second quarter 2023 financial results:
•
• Room nights booked increased 9% from the prior-year quarter.
• Total revenues were $5.5 billion, an increase of 27% from the prior-year quarter.
• Net income was $1.3 billion, an increase of 51% from the prior-year quarter.
15% from
Gross travel bookings, which refers to the total dollar value, generally inclusive of taxes and fees, of all
travel services booked by our customers, net of cancellations, were $39.7 billion, an increase of
the prior-year quarter.
• Net income per diluted common share was $34.89, an increase of 66% from the prior-year quarter.
• Non-GAAP net income was $1.4 billion, an increase of 79% from the prior-year quarter.
• Non-GAAP net income per diluted common share was $37.62, an increase of 97% from the prior-year quarter.
• Adjusted EBITDA was $1.8 billion, an increase of 64% from the prior-year quarter.
The section below under the heading "Non-GAAP Financial Measures" provides definitions and information about the use of non-GAAP financial measures in this press release, and the attached financial and statistical supplement reconciles non-GAAP financial results with Booking Holdings' financial results under GAAP.
"In the second quarter, we continued to see robust leisure travel demand, which helped drive stronger than expected room nights and gross bookings results in the quarter," said Glenn Fogel, Chief Executive Officer of Booking Holdings. "We have seen these strong trends continue into July, and we are currently preparing for what we expect to be a record summer travel season in the third quarter. We are particularly excited about our recently announced generative AI-enabled travel assistants at both Priceline and Booking.com, and look forward to learning which elements customers value the most."
1
Non-GAAP Financial Measures
The Unaudited Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") and include all normal and recurring adjustments that management of the Company considers necessary for a fair presentation of its financial position and operating results.
To supplement the Unaudited Consolidated Financial Statements, the Company uses the following non-GAAP financial measures: adjusted EBITDA, non-GAAP net income (loss), non-GAAP net income (loss) per diluted common share and free cash flow (net cash provided by (used in) operating activities less capital expenditures). The presentation of non-GAAP financial information should not be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP.
The Company uses non-GAAP financial measures for financial and operational decision-making and as a basis to evaluate performance and set targets for employee compensation programs. The Company believes that these non- GAAP financial measures are useful for analysts and investors to evaluate the Company's ongoing operating performance because they facilitate comparison of the Company's results for the current period and projected next- period results to those of prior periods and to those of its competitors (though other companies may calculate similar non-GAAP financial measures differently from those calculated by the Company). These non-GAAP financial measures, in particular adjusted EBITDA, non-GAAP net income (loss) and free cash flow, are not intended to represent funds available for Booking Holdings' discretionary use and are not intended to represent or to be used as a substitute for operating income (loss), net income (loss) or net cash provided by (used in) operating activities as measured under GAAP. The items excluded from these non-GAAP measures, but included in the calculation of their closest GAAP equivalent, are significant components of the Company's consolidated statements of operations and cash flows and must be considered in performing a comprehensive assessment of overall financial performance.
Non-GAAP net income (loss) is net income (loss) with the following adjustments:
• excludes accruals related to settlements of certain indirect tax matters,
• excludes significant losses on assets classified as held for sale,
• excludes significant gains and losses on sale and leaseback transactions,
• excludes gains and losses on equity securities with readily determinable fair values,
• excludes the impact, if any, of significant gains and losses on the sale of and impairment and credit losses
on investments in available-for-sale debt securities and significant gains and losses on the sale of and impairment and valuation adjustments on investments in equity securities without readily determinable fair values,
• excludes foreign currency transaction gains and losses on the remeasurement of Euro-denominated debt and accrued interest that are not designated as hedging instruments for accounting purposes and debt- related foreign currency derivative instruments used as economic hedges,
• excludes amortization expense of intangible assets,
• excludes interest received on tax payments refunded pursuant to settlement with authorities,
• excludes the impact of net unrecognized tax benefits related to certain income tax matters, and
• the income tax impact of the non-GAAP adjustments mentioned above and changes in tax estimates, as
applicable.
In addition to the adjustments listed above regarding non-GAAP net income (loss), adjusted EBITDA excludes depreciation expense, interest expense, and to the extent not included in the adjustments listed above, interest and dividend income, and income tax expense (benefit). In the event the Company reports a GAAP net income but a non-GAAP net loss, dilutive shares that are included in the GAAP weighted-average number of diluted common shares outstanding are excluded from the non-GAAP weighted-average number of diluted common shares outstanding. In the event the Company reports a GAAP net loss but a non-GAAP net income, anti-dilutive shares that are excluded from the GAAP weighted-average number of diluted common shares outstanding are included in the non-GAAP weighted-average number of diluted common shares outstanding.
We evaluate certain operating and financial measures on both an as-reported and constant-currency basis. We calculate constant currency by converting our current-year period results for transactions recorded in currencies other than U.S. Dollars using the corresponding prior-year period monthly average exchange rates rather than the current-year period monthly average exchange rates.
2
The attached financial and statistical supplement includes reconciliations of our financial results under GAAP to non-GAAP financial information for the three and six months ended June 30, 2023 and 2022. We are not able to provide a reconciliation between forward-looking adjusted EBITDA and GAAP net income (loss) because we cannot predict certain components of such reconciliation without unreasonable effort as they arise from events in future periods.
Information About Forward-Looking Statements
This press release contains forward-looking statements, which reflect the views of the Company's management regarding current expectations based on currently available information about future events. Forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties, such as: adverse changes in market conditions for travel services; the effects of competition; the Company's ability to manage growth and expand; the adverse impact of the COVID-19 pandemic; adverse changes in relationships with third parties on which the Company depends; success of the Company's marketing efforts; rapid technological and other market changes; the Company's ability to attract and retain qualified personnel; changes in the presentation of travel search results and the auctions for search placement; impacts of impairments and changes in accounting estimates; and other business and industry changes. Other risks and uncertainties relate to cyberattacks and information security; tax, legal, and regulatory risks; the Company's facilitation of payments; foreign currency exchange rates; financial risks relating to the Company's debt levels and stock price volatility; and the success of the Company's investments and acquisition strategy. For a detailed discussion of these and other risk factors that could cause the Company's actual results to differ materially from those described in the forward-looking statements included in this press release, refer to the Company's most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission and any subsequently filed Quarterly Reports on Form 10-Q. Unless required by law, the Company undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events, or otherwise.
We will be posting our prepared remarks to the Booking Holdings investor relations website after the conclusion of the earnings call.
About Booking Holdings Inc.
Booking Holdings (NASDAQ: BKNG) is the world's leading provider of online travel and related services, provided to consumers and local partners in more than 220 countries and territories through six primary consumer- facing brands: Booking.com, Priceline, Agoda, Rentalcars.com, KAYAK and OpenTable. The mission of Booking Holdings is to make it easier for everyone to experience the world. For more information, visit BookingHoldings.com and follow us on Twitter @BookingHoldings.
###
For Press Information: Leslie Cafferty communications@bookingholdings.com
For Investor Relations: John Longstreet ir@bookingholdings.com #BKNG_Earnings
Hot Features
프리미엄
같은 생각을 가진 투자자들과 토론할 수 있는 활발한 포럼에서 상호 작용하려면 등록하세요.
Monksdream
1 월 전
deet49
7 월 전
BottomBounce
3 년 전
TFMG
6 년 전
DeafTrader2
6 년 전
ernie44
6 년 전
