Booking Holdings reported fourth-quarter results late Wednesday that topped estimates on the top and bottom lines. BKNG stock initially climbed, then fell, as the company predicted more volatility in the travel market.
The online travel company reported adjusted earnings of $15.83 a share on revenue of $3 billion. Analysts expected Booking to report earnings of $13.68 a share on revenue of $2.85 billion. Revenue jumped 141% from the year-ago quarter.
BKNG stock initially climbed 2.6% in reaction to the report. However, the stock then reversed. It was down 4.9% to 2,350 during after-hours trading on the stock market today.
Chief Financial Officer David Goulden said on the earnings call that Booking trends were encouraging. However, he expects "continued volatility" because of possible continuing effects of Covid-19 as well as geopolitical concerns, according to MarketWatch.
In the earnings announcement, Booking said, "The Company's results for the three and twelve months ended December 31, 2021 and 2020 have been materially and negatively impacted due to the COVID-19 pandemic and the resulting economic conditions and government restrictions."
The Booking earnings report follows Expedia, which reported quarterly results Friday that beat estimates.
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