Booking Holdings rises on strong third-quarter results amid travel demand, ETTravelWorld

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Online travel company Booking Holdings beat Wall Street estimates for third-quarter revenue and profit on Tuesday, helped by more customers consolidating their bookings on its platform and stable travel demand.

The company’s shares rose about 5 percent in after-hours trading.

“While there remains some uncertainty in the macroeconomic and geopolitical backdrop, we are pleased to see continued momentum with consistent travel demand trends in our business so far in the fourth quarter,” the company said in a statement.

Total bookings for the third quarter were $49.7 billion, an increase of 14 percent over last year.

The Norwalk, Conn.-based company reported adjusted quarterly earnings of $99.50 per share, compared with analyst estimates of $95.66 per share, according to data compiled by LSEG.

Total revenue for the quarter ended September 30 was $9.01 billion, also above expectations of $8.72 billion.

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