(AOF) – Booking is expected to rise in pre-market on Wall Street after publishing 1st quarter results significantly better than expectations. The hotel reservation specialist posted earnings per share of $20.39 versus $14.06 expected, up 76% year-on-year, for revenue of $4.41 billion versus $4.25 billion. expected to increase by 17% over one year. The number of hotel nights booked increased by 9% year-on-year, while adjusted EBITDA increased by 53% to $898 million.
Booking announces cash dividend of $8.75 per share, payable June 28, 2024.
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Global tourism still on the rise
Over the first nine months of 2022, 700 million tourists traveled internationally, more than double (+133%) the figure recorded for the same period in 2021. This figure reached 63% of 2019 levels , which should allow the sector to reach 65% of its pre-pandemic levels in 2022. This result is due to a high level of demand and the gradual lifting of restrictions in a large number of countries. Europe is significantly supporting this rebound with the arrival of 477 million people between January and September 2022 (68% of the global total), reaching 81% of the pre-covid level. Tourism there is driven by strong intra-regional demand and travel from the United States. Some destinations saw notable increases in revenue, including Serbia, Romania, Turkey, Latvia, Portugal, Pakistan, Mexico, Morocco and France.