We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Booking Holdings (BKNG) to Post Q3 Earnings: What to Expect
Read MoreHide Full Article
Booking Holdings Inc. (BKNG - Free Report) is scheduled to report third-quarter 2022 results on Nov 2.
For the third quarter, the Zacks Consensus Estimate for revenues is pegged at $5.91 billion, suggesting growth of 26.5% from the year-ago quarter’s reported figure.
Our estimate suggests revenues of $5.90 billion, indicating an increase of 26.2% from the year-ago quarter’s reported figure.
The consensus mark for earnings stands at $49.5 per share, implying growth of 31.3% from the year-ago quarter’s reported figure. The consensus mark has moved 0.1% south in the past seven days.
We expect earnings to stand at $48.41 per share, seeing a 28.4% surge from the same-quarter level last year.
Booking Holdings’ third-quarter performance is expected to have continued benefiting from increasing customer gross bookings owing to improvement in room night trends, growing accommodation Average Daily Rates (ADRs) and increasing demand for global flight products.
Booking Holdings’ brands, namely Priceline, KAYAK, Agoda and OpenTable are expected to have witnessed strong customer momentum in the third quarter. Growing travel bookings in the United States and Asia via Priceline and Agoda, respectively, a rise in international flight searches at KAYAK and increasing restaurant bookings through OpenTable might have been tailwinds.
The Zacks Consensus Estimate for gross booking is pegged at $30.2 billion, increasing 27.5% from the year-ago quarter’s level.
A surge in work-from-home initiatives amid the global coronavirus pandemic continues to encourage people to travel according to their convenience. This flexibility in travel plans might have driven BKNG’s bookings in the to-be-reported quarter.
BKNG is consistently making efforts to provide benefits to travelers and supply partners. This is expected to have helped it gain momentum among its target groups, thus bolstering its accommodation business in the quarter under discussion.
Rising initiatives to strengthen the Booking.com brand and the Genius loyalty program might have remained positives. Also, growing investments in the app to increase customer engagement are likely to have continued contributing significantly to the top line in the to-be-reported quarter.
Growing investments to support the payment platform and the Connected Trip are expected to have aided the quarterly performance. Continuous efforts to make Booking.com attractive and the trusted payment intermediary among travelers and supplier partners might have aided the second-quarter performance.
Booking Holdings holds a strong balance sheet, solid free cash flow and liquidity position. This is likely to have helped it counter macroeconomic uncertainties in the quarter under review.
However, uncertainties related to the coronavirus pandemic prevalent in the global travel industry are expected to have been a concern for BKNG. A spike in COVID cases and the resultant lockdowns in China are likely to have been headwinds.
Macroeconomic headwinds, increasing expenses and stiff competition in the online travel booking space are expected to have hurt Booking Holdings’ profitability in the to-be-reported quarter.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for Booking Holdings this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here, as elaborated below. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Booking Holdings has an Earnings ESP of -1.12% and a Zacks Rank #4 (Sell) at present.
Stocks to Consider
Here are some stocks worth considering, as our model shows that these have the right combination of elements to beat on earnings this season.
Fortinet is set to report third-quarter 2022 results on Nov 2. The Zacks Consensus Estimate for FTNT’s earnings is pegged at 27 cents per share, suggesting an increase of 35% from the prior-year period’s reported figure.
The Trade Desk (TTD - Free Report) has an Earnings ESP of +2.13% and a Zacks Rank of 2 at present.
The Trade Desk is scheduled to release third-quarter 2022 results on Nov 14. The Zacks Consensus Estimate for TTD’s earnings is pegged at 24 cents per share, suggesting an increase of 33.3% from the prior-year quarter’s reported figure.
Tencent Music Entertainment Group (TME - Free Report) has an Earnings ESP of +4.76% and a Zacks Rank of 2 at present.
Tencent Music is scheduled to release third-quarter 2022 results on Nov 15. The Zacks Consensus Estimate for TME’s earnings is pegged at 11 cents per share, suggesting an increase of 22.2% from the prior-year quarter’s reported figure.
Image: Bigstock
Booking Holdings (BKNG) to Post Q3 Earnings: What to Expect
Booking Holdings Inc. (BKNG - Free Report) is scheduled to report third-quarter 2022 results on Nov 2.
For the third quarter, the Zacks Consensus Estimate for revenues is pegged at $5.91 billion, suggesting growth of 26.5% from the year-ago quarter’s reported figure.
Our estimate suggests revenues of $5.90 billion, indicating an increase of 26.2% from the year-ago quarter’s reported figure.
The consensus mark for earnings stands at $49.5 per share, implying growth of 31.3% from the year-ago quarter’s reported figure. The consensus mark has moved 0.1% south in the past seven days.
We expect earnings to stand at $48.41 per share, seeing a 28.4% surge from the same-quarter level last year.
Booking Holdings Inc. Price and EPS Surprise
Booking Holdings Inc. price-eps-surprise | Booking Holdings Inc. Quote
Key Factors to Note
Booking Holdings’ third-quarter performance is expected to have continued benefiting from increasing customer gross bookings owing to improvement in room night trends, growing accommodation Average Daily Rates (ADRs) and increasing demand for global flight products.
Booking Holdings’ brands, namely Priceline, KAYAK, Agoda and OpenTable are expected to have witnessed strong customer momentum in the third quarter. Growing travel bookings in the United States and Asia via Priceline and Agoda, respectively, a rise in international flight searches at KAYAK and increasing restaurant bookings through OpenTable might have been tailwinds.
The Zacks Consensus Estimate for gross booking is pegged at $30.2 billion, increasing 27.5% from the year-ago quarter’s level.
A surge in work-from-home initiatives amid the global coronavirus pandemic continues to encourage people to travel according to their convenience. This flexibility in travel plans might have driven BKNG’s bookings in the to-be-reported quarter.
BKNG is consistently making efforts to provide benefits to travelers and supply partners. This is expected to have helped it gain momentum among its target groups, thus bolstering its accommodation business in the quarter under discussion.
Rising initiatives to strengthen the Booking.com brand and the Genius loyalty program might have remained positives. Also, growing investments in the app to increase customer engagement are likely to have continued contributing significantly to the top line in the to-be-reported quarter.
Growing investments to support the payment platform and the Connected Trip are expected to have aided the quarterly performance. Continuous efforts to make Booking.com attractive and the trusted payment intermediary among travelers and supplier partners might have aided the second-quarter performance.
Booking Holdings holds a strong balance sheet, solid free cash flow and liquidity position. This is likely to have helped it counter macroeconomic uncertainties in the quarter under review.
However, uncertainties related to the coronavirus pandemic prevalent in the global travel industry are expected to have been a concern for BKNG. A spike in COVID cases and the resultant lockdowns in China are likely to have been headwinds.
Macroeconomic headwinds, increasing expenses and stiff competition in the online travel booking space are expected to have hurt Booking Holdings’ profitability in the to-be-reported quarter.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for Booking Holdings this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here, as elaborated below. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Booking Holdings has an Earnings ESP of -1.12% and a Zacks Rank #4 (Sell) at present.
Stocks to Consider
Here are some stocks worth considering, as our model shows that these have the right combination of elements to beat on earnings this season.
Fortinet (FTNT - Free Report) has an Earnings ESP of +0.92% and a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Fortinet is set to report third-quarter 2022 results on Nov 2. The Zacks Consensus Estimate for FTNT’s earnings is pegged at 27 cents per share, suggesting an increase of 35% from the prior-year period’s reported figure.
The Trade Desk (TTD - Free Report) has an Earnings ESP of +2.13% and a Zacks Rank of 2 at present.
The Trade Desk is scheduled to release third-quarter 2022 results on Nov 14. The Zacks Consensus Estimate for TTD’s earnings is pegged at 24 cents per share, suggesting an increase of 33.3% from the prior-year quarter’s reported figure.
Tencent Music Entertainment Group (TME - Free Report) has an Earnings ESP of +4.76% and a Zacks Rank of 2 at present.
Tencent Music is scheduled to release third-quarter 2022 results on Nov 15. The Zacks Consensus Estimate for TME’s earnings is pegged at 11 cents per share, suggesting an increase of 22.2% from the prior-year quarter’s reported figure.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.