Booking Holdings today reported its 1st quarter 2019 financial results.
Q1 financial results
First quarter gross travel bookings for Booking Holdings were $25.4 billion, an increase of 2% over a year ago (approximately 8% on a constant-currency basis).
Total revenues for the 1st quarter of 2019 were $2.8 billion, a 3% decrease from the prior year (an increase of approximately 3% on a constant-currency basis).
Net income in the 1st quarter was $765 million, a 26% increase versus the prior year.
Non-GAAP net income in the 1st quarter was $508 million, a 14% decrease versus the prior year.
Adjusted EBITDA for the 1st quarter was $718 million, a 10% decrease versus a year ago.
"Q1 was a solid start to the year," said Glenn Fogel, Chief Executive Officer of Booking Holdings. "We recorded 217 million room nights booked in the quarter, which is up 10% year-over-year." Looking forward, Mr. Fogel said, "We continue to execute against a very large market opportunity and will manage our business with a long-term view in order to capture it."
Guidance for the 2nd quarter of 2019 is as follows:
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