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NEW YORK (Reuters) -Online travel agency Booking Holdings (NASDAQ:BKNG) Inc reported a 36% year-over-year increase in fourth-quarter revenue on Thursday, aided by sustained travel demand.
The Booking.com and KAYAK operator’s revenue rose to $4 billion for the quarter, exceeding Wall Street’s estimates for $3.89 billion in revenue, according to Refinitiv data.
Gross bookings for the quarter rose 44% from the year-ago period to $27.3 billion, the company said.
“We are encouraged by the continued strength and resiliency of demand from travelers last year and into the new year, which we believe speaks to our consumers’ strong desire to use our platforms when booking their travel,” said Glenn Fogel, Booking’s chief executive officer.
Shares fell 0.8% in extended trading.
Booking Holdings said gross travel bookings for fiscal year 2022 increased 58% to $121.3 billion. Total revenues for the full year increased 56% to $17.1 billion.
Other U.S. travel companies including Booking’s peer, vacation rental Airbnb Inc, also reported strong fourth quarter results on sustained travel demand, despite economic concerns.
