BKNG - Booking Holdings Inc. (BKNG) Q4 2023 Earnings Call Transcript
2024-02-22 21:03:03 ET
Booking Holdings Inc. (BKNG)
Q4 2023 Earnings Conference Call
February 22, 2024 16:30 ET
Company Participants
Glenn Fogel - Chief Executive Officer
David Goulden - Chief Financial Officer
Conference Call Participants
Justin Post - Bank of America/Merrill Lynch
Kevin Kopelman - TD Cowen
Mark Mahaney - Evercore ISI
Doug Anmuth - JPMorgan
Brian Nowak - Morgan Stanley
James Lee - Mizuho
Eric Sheridan - Goldman Sachs
Presentation
Operator
Welcome to Booking Holdings Fourth Quarter and Full Year 2023 Conference Call. Booking Holdings would like to remind everyone that this call may contain forward-looking statements which are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict.
Therefore, actual results may differ materially from those expressed, implied or forecasted in any such forward-looking statements. Expressions of future goals or expectations and similar expressions reflecting something other than historical fact are intended to identify forward-looking statements. For a list of factors that could cause Booking Holdings’ actual results to differ materially from those described in the forward-looking statements – please refer to the safe harbor statement at the end of Booking Holdings’ earnings press release as well as Booking Holdings’ most recent filings with the Securities and Exchange Commission.
Unless required by law, Booking Holdings undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise. A copy of Booking Holdings’ earnings press release, together with an accompanying financial and statistical supplement, is available in the For Investors section of Booking Holdings’ website at www.bookingholdings.com.
And now I’d like to introduce Booking Holdings speakers for this afternoon, Glenn Fogel and David Goulden. Please go ahead, gentlemen.
Glenn Fogel
Thank you, and welcome to Booking Holdings’ fourth quarter conference call. I am joined this afternoon by our CFO, David Goulden. I am pleased to report a solid finish to 2023 as fourth quarter room nights slightly exceeded our expectations and grew a bit more than 9% year-over-year or 11% when excludes Israel from both periods. When compared to 2019, our room nights grew 21% versus our expectations of 20%. We delivered record fourth quarter revenue of $4.8 billion and record adjusted EBITDA of $1.5 billion, which were ahead of our expectations. Finally, the GAAP and earnings per share in the quarter grew 29% year-over-year, helped by the reduction in our share count versus last year....
Booking Holdings Inc. (BKNG) Q4 2023 Earnings Call Transcript