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What's in Store for Booking Holdings (BKNG) in Q3 Earnings?
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Booking Holdings Inc. (BKNG - Free Report) is scheduled to report its third-quarter 2023 results on Nov 2.
For the third quarter, the Zacks Consensus Estimate for revenues is pegged at $7.23 billion, suggesting growth of 19.5% from the year-ago quarter’s reported figure.
The consensus mark for earnings is pegged at $67.85 per share, indicating a rise of 27.9% from the year-ago quarter’s reported number. The consensus mark has decreased by 0.7% in the past 30 days.
The company’s earnings beat estimates in all the trailing four quarters, the average being 16.62%.
Let’s see how things have shaped up for the upcoming announcement.
Booking Holdings’ growing momentum in booking trends, owing to continued strength in travel demand, is expected to have benefited its top-line growth in the third quarter of 2023.
The Zacks Consensus Estimate for gross bookings is pinned at $38.08 billion, indicating growth of 18.6% year over year.
Solid momentum in airline ticket units sold, owing to the continued expansion of its flight offerings, is likely to have benefited the company in the quarter under review.
The consensus estimate for airline tickets sold is pegged at 10.01 million units, suggesting growth of 66.8% year over year.
Further, strength across hotel room nights, driven by alternative accommodation room nights booking, is expected to have aided Booking Holdings’ performance during the quarter to be reported.
The consensus mark for hotel room nights sold implies growth of 11.8% year over year to 268.44 million units.
Additionally, BKNG’s solid momentum across its agency, merchant, and advertising and other businesses is likely to have contributed well to the upcoming results.
The Zacks Consensus Estimate for agency revenues is pegged at $3.37 billion, indicating growth of 5.1% year over year.
The Zacks Consensus Estimate for advertising and other revenues is pegged at $262.94 million, suggesting growth of 11.9% from the year-ago reported figure.
The Zacks Consensus Estimate for merchant revenues is pegged at $3.58 billion, indicating growth of 37.2% from the year-ago reported figure.
Moreover, the company’s growing focus on its Connected Trip vision, integrating AI technology and fostering stronger relationships with travel bookers is expected to have boosted its performance in the quarter under review.
However, macroeconomic uncertainties and intensifying competition are likely to have acted as headwinds for the upcoming results.
What Our Model Says
According to the Zacks model, 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.
Booking Holdings currently has an Earnings ESP of -6.74% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are a few companies worth considering, as our model shows that these have the right combination of elements to beat on earnings in their upcoming releases:
GoDaddy is scheduled to release third-quarter 2023 results on Nov 2. The Zacks Consensus Estimate for GDDY’s earnings is pegged at 71 cents per share, suggesting growth of 12.7% from the prior-year period’s reported figure.
Fastly (FSLY - Free Report) has an Earnings ESP of +17.24% and a Zacks Rank #2 at present.
Fastly is set to report third-quarter 2023 results on Nov 1. The Zacks Consensus Estimate for FSLY’s earnings is pegged at a loss of 7 cents per share, suggesting growth of 50% from the prior-year period’s reported figure.
BILL Holdings (BILL - Free Report) has an Earnings ESP of +4.42% and a Zacks Rank #3 at present.
BILL Holdings is set to report first-quarter fiscal 2024 results on Nov 2. The Zacks Consensus Estimate for BILL’s earnings is pegged at 50 cents per share, indicating an increase from the prior-year quarter’s reported figure of 14 cents.
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What's in Store for Booking Holdings (BKNG) in Q3 Earnings?
Booking Holdings Inc. (BKNG - Free Report) is scheduled to report its third-quarter 2023 results on Nov 2.
For the third quarter, the Zacks Consensus Estimate for revenues is pegged at $7.23 billion, suggesting growth of 19.5% from the year-ago quarter’s reported figure.
The consensus mark for earnings is pegged at $67.85 per share, indicating a rise of 27.9% from the year-ago quarter’s reported number. The consensus mark has decreased by 0.7% in the past 30 days.
The company’s earnings beat estimates in all the trailing four quarters, the average being 16.62%.
Let’s see how things have shaped up for the upcoming announcement.
Booking Holdings Inc. Price and EPS Surprise
Booking Holdings Inc. price-eps-surprise | Booking Holdings Inc. Quote
Key Factors to Note
Booking Holdings’ growing momentum in booking trends, owing to continued strength in travel demand, is expected to have benefited its top-line growth in the third quarter of 2023.
The Zacks Consensus Estimate for gross bookings is pinned at $38.08 billion, indicating growth of 18.6% year over year.
Solid momentum in airline ticket units sold, owing to the continued expansion of its flight offerings, is likely to have benefited the company in the quarter under review.
The consensus estimate for airline tickets sold is pegged at 10.01 million units, suggesting growth of 66.8% year over year.
Further, strength across hotel room nights, driven by alternative accommodation room nights booking, is expected to have aided Booking Holdings’ performance during the quarter to be reported.
The consensus mark for hotel room nights sold implies growth of 11.8% year over year to 268.44 million units.
Additionally, BKNG’s solid momentum across its agency, merchant, and advertising and other businesses is likely to have contributed well to the upcoming results.
The Zacks Consensus Estimate for agency revenues is pegged at $3.37 billion, indicating growth of 5.1% year over year.
The Zacks Consensus Estimate for advertising and other revenues is pegged at $262.94 million, suggesting growth of 11.9% from the year-ago reported figure.
The Zacks Consensus Estimate for merchant revenues is pegged at $3.58 billion, indicating growth of 37.2% from the year-ago reported figure.
Moreover, the company’s growing focus on its Connected Trip vision, integrating AI technology and fostering stronger relationships with travel bookers is expected to have boosted its performance in the quarter under review.
However, macroeconomic uncertainties and intensifying competition are likely to have acted as headwinds for the upcoming results.
What Our Model Says
According to the Zacks model, 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.
Booking Holdings currently has an Earnings ESP of -6.74% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are a few companies worth considering, as our model shows that these have the right combination of elements to beat on earnings in their upcoming releases:
GoDaddy (GDDY - Free Report) has an Earnings ESP of +14.09% and a Zacks Rank #1 at present. You can see the complete list of today's Zacks #1 Rank stocks here.
GoDaddy is scheduled to release third-quarter 2023 results on Nov 2. The Zacks Consensus Estimate for GDDY’s earnings is pegged at 71 cents per share, suggesting growth of 12.7% from the prior-year period’s reported figure.
Fastly (FSLY - Free Report) has an Earnings ESP of +17.24% and a Zacks Rank #2 at present.
Fastly is set to report third-quarter 2023 results on Nov 1. The Zacks Consensus Estimate for FSLY’s earnings is pegged at a loss of 7 cents per share, suggesting growth of 50% from the prior-year period’s reported figure.
BILL Holdings (BILL - Free Report) has an Earnings ESP of +4.42% and a Zacks Rank #3 at present.
BILL Holdings is set to report first-quarter fiscal 2024 results on Nov 2. The Zacks Consensus Estimate for BILL’s earnings is pegged at 50 cents per share, indicating an increase from the prior-year quarter’s reported figure of 14 cents.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.