Shares of Booking Holdings (NASDAQ:BKNG) plunged in after-hours trading after the company reported earnings for its first quarter of Fiscal Year 2023. Earnings per share came in at $11.60, which beat analysts’ consensus estimate of $10.57 per share. Sales increased by 40% year-over-year, with revenue hitting $3.78 billion. This beat analysts’ expectations of $3.48 billion.
Booking Holdings saw significant improvements in several segments. Its gross travel bookings–which include the total dollar value of all travel services–were up 44% against this time last year to reach $39.4 billion. Room nights booked, meanwhile, were up 38%.
Overall, Wall Street has a consensus price target of $2,825 on Booking Holdings stock, implying 8.54% upside potential, as indicated by the graphic above.
