By Chris Wack


Booking Holdings Inc. shares were up 9% to $2,298.20 after the company reported first-quarter revenue that beat analysts' expectations.

The company said that for the quarter, revenue rose $2.7 billion from $1.14 billion in the same period last year. Analysts polled by FactSet were looking for revenue of $2.53 billion.

Booking said it had a quarterly loss of $700 million, or $17.10 a share, compared with a loss last year of $55 million, or $1.34 a share. Adjusted earnings were $3.90 a share. Analysts had forecast adjusted EPS of 85 cents.

The company said gross travel bookings, the total dollar value of all travel services booked, net of cancellations, increased 129% from a year earlier to $27.3 billion.

Booking said that despite an uncertain macroeconomic environment, it is preparing for a busy summer travel season.

Citigroup raised its price target to $2,800 from $2,600 a share, while maintaining its buy recommendation.


Write to Chris Wack at chris.wack@wsj.com


(END) Dow Jones Newswires

05-05-22 1010ET