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Booking Holdings (BKNG) stock jumped after the online travel agency reported third-quarter results that beat expectations. The Norwalk, Conn.-based Booking Holdings said late Tuesday that it earned an adjusted $99.50 per share for the September-ended quarter, up 19% from a year earlier. That beat the $95.85 per share that analysts polled by FactSet were forecasting. Sales increased 13% year-over-year to $9.01 billion, compared to analyst estimates of $8.73 billion. Booking Holdings is the parent company of Booking.com, Priceline and OpenTable, among other brands. It is the largest global online travel agency, competing with Expedia Group and Airbnb, among other firms. Total bookings value across the company's platforms grew 14% year-over-year to $49.7 billion during the previous quarter. Analysts were projecting $48 billion, according to FactSet. Meanwhile, Booking Holdings is projecting revenue growth between 10% and 12% for the fourth quarter, according to its news release. The midpoint of its range is below the 11.8% sales growth analysts are forecasting for the December quarter. However, the company's bookings growth guidance of roughly 12% is ahead of the 11.7% previously forecasted by analysts, according to FactSet. On the stock market today, Booking stock gained more than 5% at 5,381 in recent after-hours trading. Booking Stock Underperforming S&P 500 Booking stock fell 2.5% in regular trading Tuesday. Shares are ahead 4.5% year-to-date, underperforming a roughly 17% gain for the S&P 500. Shares have been hit by concerns about U.S. travel demand and the longer-term risk of OpenAI and other chatbots capturing travel-booking market share. Coming into its Q3 report, Booking stock had an IBD Composite Rating of 77 out of a best-possible 99, according to IBD Stock Checkup. The score combines five separate proprietary ratings into one rating. The best growth stocks have a Composite Rating of 90 or better. YOU MAY ALSO LIKE: Meta Stock On Winning Streak With Earnings Due. This Number Takes 'Center Stage.' Top Growth Stocks To Buy And Watch Learn How To Time The Market With IBD's ETF Market Strategy Find The Best Long-Term Investments With IBD Long-Term Leaders
