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Rebound in the summer traveling big online travel Booking in the third quarter revenue than expected

Date: 2020-11-06

Booking the hope now is domestic business travel accommodation.

It is reported that due to cost-cutting and rebound summer travel, big online travel Booking Holdings reports on Thursday were better than analysts' expectations in the third quarter revenue.Before this came in the second round of the new virus outbreak provides respite for the company.Booking CEO Glenn Fogel (Glenn Fogel) warned that a new epidemic will continue to drag down the company's future earnings prospects.Booking on Thursday, according to a report in the third quarter revenue fell 48%, to $2.6 billion.According to bloomberg statistics, analysts on average expected Booking the quarter revenue of $2.54 billion.The second quarter revenue Booking record fell 84%, therefore improved slightly in the third quarter.Booking report, compared with the same period last year, guest room room nights bookings fell 43% year on year.Travel total reservation amount fell 47% year on year, to $13.4 billion.Fogel in earnings announcement, said: "we are pleased to see in the third quarter earnings release., we believe, thanks in part to government turned over to a certain extent in addition to isolate the ban, as well as in the second quarter part time almost fully suppress the release of travel demand.However, many parts of the world is now in the second round of the new virus outbreaks.Accordingly, isolation and renewed the travel ban is increasing.In the short term, the travel industry will continue to be affected."New booking hotel room night volume fell by about 40%.Booking, chief financial officer David Goulden (David Goulden) on the earnings call, said recent new champions league as Europe and the United States the increase of pneumonia cases, as well as the cold weather and a travel ban, "may lead to a second recession was U, and continue until early spring" in 2021.

Travel Booking runs a Priceline and Kayak and so on five big brand, influenced by new crown virus outbreaks is particularly serious.In addition to apply for government assistance, its main business, has cut a quarter, cuts the advertising spending at the same time.The company's rivals TripAdvisor and reality are the layoffs.Booking the hope now is domestic business travel accommodation.To the transformation of telecommuting and fewer business travel stimulates the user demand for other forms of tourism and holiday accommodation.However, as European countries ban, Booking business outside the United States is likely to drag on the rebound.At present, outside the United States market accounted for most of the company revenue.Bloomberg intelligence analyst Matthew omar cupertino (Matthew DE Martino), said the outlook for the Booking "in growing new virus cases appear poor certainty", epidemic "may affect short-term travel demand".Excludes one-time charges, Booking in the third quarter profit fell 74%, to $504 million, or $12.27 a share, worse than analysts on average expected $14.58.Booking on Thursday the U.S. stock market share prices fell about 1% in after-hours trading.Since this year, the company's share price fell 14%.