By Denny Jacob


Booking Holdings Inc. shares rose 6% to $2,230.01 after hours Wednesday after the company beat revenue expectations in the first quarter and noted strengthening travel trends in the current quarter.

Chief Executive Glenn Fogel said in prepared remarks that the company has seen continued strengthening of global travel trends in the current quarter despite an uncertain macroeconomic environment. He added that Booking Holdings is preparing for a busy summer travel season ahead.

The online travel services provider widened its loss to $700 million, or a loss of $17.10 a share, for the quarter ended March 31, compared with a loss of $55 million, or a loss of $1.34 a share, in the year-ago period. Adjusted earnings were $3.90. Analysts polled by FactSet expected 85 cents.

Revenue rose to $2.7 billion from $1.14 billion. Analysts polled by FactSet expected $2.53 billion.

Gross travel bookings, which is the total dollar value of all travel services booked, net of cancellations, increased 129% from a year earlier to $27.3 billion


Write to Denny Jacob at denny.jacob@wsj.com


(END) Dow Jones Newswires

05-04-22 1638ET