Booking Holdings (NASDAQ:BKNG) shares fell more than 3% after-hours following the company’s reported Q1 results. While EPS of $11.60 and revenue of $3.8 billion (up 40% year-over-year) came in better than the consensus estimates of $10.67 and $3.76B, respectively, adjusted EBITDA of $586 million missed both the company’s and analysts' expectations.
The company reported an all-time quarterly high for both room nights of 274M and gross bookings of $39.4B, up 38% and 44% year-over-year, respectively.
For Q2, the company expects adjusted EBITDA to be around 35% higher than last year, assuming that room night growth will be up mid-single digits year-over-year.