Q: What is Booking Holdings (BKNG) Q1 2024 Earnings Call Transcript Summary?
Here are the specific viewpoints from earnings call
Bullish Points:
1. Nearly 300 million room nights booked in Q1, a 9% year-over-year growth.
2. First quarter revenue grew 17% year over year to $4.4 billion.
3. Adjusted EBITDA increased 53% year over year to about $900 million.
4. Adjusted earnings per share grew 76% year over year.
5. Strong capital return program reduced average share count by 9% versus last year.
6. Resiliency in global leisure travel demand with healthy growth for upcoming peak summer season.
7. Room night growth expected to benefit from the shift in Easter timing.
8. Progress in strategic priorities such as connected trip vision, expanding merchant offering, developing AI capabilities, and enhancing loyalty program.
9. Growth in the number of total active travelers and higher growth in repeat travelers.
10. Increases in the average number of trips booked per traveler and a growing proportion of direct bookings.
Bearish Points:
1. High percentage of summer bookings are cancelable, representing only a modest percentage of expected total.
2. Potential deceleration in room night growth versus Q1 due to less expansion of the booking window and increased impact from geopolitical situation in the Middle East.
3. Expectation of second-quarter room night growth deceleration to between 4% and 6%.
4. Anticipation of a more negative impact from the ongoing war in the Middle East in the second quarter.
5. Second-quarter gross bookings growth expected to be slightly below room night growth due to negative FX impact.
6. Second-quarter revenue growth projected to be between 4% and 6%, impacted by negative FX changes.
7. Sales and other expenses expected to grow faster than revenue in the second quarter.
8. More fixed opex to grow faster than revenue in the second quarter due to IT expense growth.
9. Adjusted EBITDA for the second quarter expected to be down low single digits year over year.
10. Flat ADRs (Average Daily Rates) in North America and Asia, with only a 1% overall growth on a constant currency basis.
For more information about Booking Holdings(BKNG)'s earnings call, you can read the relevant news: Booking Holdings (BKNG) Q1 2024 Earnings Call Transcript.
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