Booking announces $20B share repurchase authorization

On its quarterly conference call, Booking announced that its board of directors announced a new share repurchase authorization of $20B that it will begin utilizing after it completes its current authorization. The company anticipates completing the share repurchases under a cumulative $24B authorization within the next four years, assuming that travel continues to recover. The company also said it expects FY23 revenue as a percnetage of gross bookings to be about 50 basis points higher than in FY22. Booking added that January room nights are up 26% compared to 2019 or up about 60% year-over-year.