Booking Holdings Inc. Files 10-Q for Q1 2024

TL;DR

<b>Booking Holdings Inc. filed its Q1 2024 10-Q report detailing financial performance and key balance sheet items.</b>

AI Summary

Booking Holdings Inc. (BKNG) filed a Quarterly Report (10-Q) with the SEC on May 2, 2024. Booking Holdings Inc. reported its Q1 2024 financial results on May 2, 2024. The filing covers the period from January 1, 2024, to March 31, 2024. Key financial statement items include common stock, senior notes, short-term investments, and retained earnings. Revenue segments reported are Merchant Revenue, Agency Revenue, and Advertising and other revenues. The company's fiscal year ends on December 31st.

Why It Matters

For investors and stakeholders tracking Booking Holdings Inc., this filing contains several important signals. This filing provides investors with the latest quarterly financial data, crucial for assessing the company's performance and making investment decisions. Understanding the revenue breakdown and balance sheet changes offers insight into Booking Holdings' operational health and financial strategy.

Risk Assessment

Risk Level: medium — Booking Holdings Inc. shows moderate risk based on this filing. The company has significant debt obligations, including various senior notes due in the coming years, which could pose financial risks if not managed effectively.

Analyst Insight

Monitor Booking Holdings' revenue growth across its segments and its ability to manage its debt obligations in the upcoming quarters.

Revenue Breakdown

Key Numbers

• 2024-03-31 — Report Period End Date (10-Q filing)
• 2024-05-02 — Filing Date (10-Q filing)
• 2024-01-01 — Report Period Start Date (10-Q filing)

Key Players & Entities

• Booking Holdings Inc. (company) — Filer
• Priceline Group Inc. (company) — Former company name
• PRICELINE COM INC (company) — Former company name

FAQ

Industry Context

Booking Holdings operates in the online travel agency (OTA) and broader travel technology sector, a highly competitive and dynamic industry.

Regulatory Implications

The company is subject to various regulations related to consumer protection, data privacy, and competition laws in the jurisdictions where it operates.

What Investors Should Do

1. Analyze the detailed financial statements for Q1 2024 to understand revenue trends and profitability.
2. Review the notes to the financial statements for any significant accounting policies or disclosures.
3. Compare Q1 2024 performance against historical data and industry benchmarks.

Key Dates

• 2024-03-31: Quarter End — End of the reporting period for the 10-Q filing.
• 2024-05-02: Filing Date — Date the 10-Q report was officially filed with the SEC.

Year-Over-Year Comparison

This filing is the Q1 2024 10-Q, providing the latest quarterly update following the previous fiscal year's filings.

Key Financial Figures

• $0.008 — ich registered: Common Stock par value $0.008 per share BKNG The NASDAQ Global Select

Filing Documents

• bkng-20240331.htm (10-Q) — 1284KB
• bkng33124ex311.htm (EX-31.1) — 15KB
• bkng33124ex312.htm (EX-31.2) — 15KB
• bkng33124ex321.htm (EX-32.1) — 7KB
• bkng33124ex322.htm (EX-32.2) — 7KB
• bkng-20240331_g1.jpg (GRAPHIC) — 26KB
• bkng-20240331_g2.jpg (GRAPHIC) — 22KB
• 0001075531-24-000027.txt (&nbsp;) — 7583KB
• bkng-20240331.xsd (EX-101.SCH) — 47KB
• bkng-20240331_cal.xml (EX-101.CAL) — 64KB
• bkng-20240331_def.xml (EX-101.DEF) — 295KB
• bkng-20240331_lab.xml (EX-101.LAB) — 571KB
• bkng-20240331_pre.xml (EX-101.PRE) — 410KB
• bkng-20240331_htm.xml (XML) — 1308KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Financial Statements 4

Item 1. Financial Statements 4 Consolidated Balance Sheets at March 31, 2024 (Unaudited) and December 31, 2023 4 Consolidated Statements of Operations (Unaudited) For the Three Months Ended March 31, 2024 and 2023 5 Consolidated Statements of Comprehensive Income (Unaudited) For the Three Months Ended March 31, 2024 and 2023 6 Consolidated Statements of Changes in Stockholders' (Deficit) Equity (Unaudited) For the Three Months Ended March 31, 2024 and 2023 7 Consolidated Statements of Cash Flows (Unaudited) For the Three Months Ended March 31, 2024 and 2023 8 Notes to Unaudited Consolidated Financial Statements 9

Management's Discussion and Analysis of Financial Condition and Results of Operations 24

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 24

Quantitative and Qualitative Disclosures About Market Risk 37

Item 3. Quantitative and Qualitative Disclosures About Market Risk 37

Controls and Procedures 38

Item 4. Controls and Procedures 38

- OTHER INFORMATION

PART II - OTHER INFORMATION

Legal Proceedings 39

Item 1. Legal Proceedings 39

Risk Factors 39

Item 1A. Risk Factors 39

Unregistered Sales of Equity Securities and Use of Proceeds 39

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 39

Exhibits 40

Item 6. Exhibits 40 SIGNATURES 41 3

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements Booking Holdings Inc. CONSOLIDATED BALANCE SHEETS (In millions, except share and per share data) March 31, 2024 December 31, 2023 (Unaudited) ASSETS Current assets: Cash and cash equivalents $ 15,629 $ 12,107 Short-term investments (Available-for-sale debt securities: Amortized cost of $ 363 and $ 580 , respectively) 362 576 Accounts receivable, net (Allowance for expected credit losses of $ 157 and $ 137 , respectively) 3,296 3,253 Prepaid expenses, net 737 644 Other current assets 452 454 Total current assets 20,476 17,034 Property and equipment, net 805 784 Operating lease assets 663 705 Intangible assets, net 1,553 1,613 Goodwill 2,815 2,826 Long-term investments 443 440 Other assets, net 973 940 Total assets $ 27,728 $ 24,342 LIABILITIES AND STOCKHOLDERS' DEFICIT Current liabilities: Accounts payable $ 3,268 $ 3,480 Accrued expenses and other current liabilities 4,774 4,635 Deferred merchant bookings 5,328 3,254 Short-term debt 3,462 1,961 Total current liabilities 16,832 13,330 Deferred income taxes 287 258 Operating lease liabilities 556 599 Long-term U.S. transition tax liability 515 515 Other long-term liabilities 152 161 Long-term debt 13,438 12,223 Total liabilities 31,780 27,086 Commitments and contingencies (see Note 13) Stockholders' deficit: Common stock, $ 0.008 par value, Authorized shares: 1,000,000,000 Issued shares: 64,252,207 and 64,048,000 , respectively — — Treasury stock: 30,185,788 and 29,650,351 shares, respectively ( 43,330 ) ( 41,426 ) Additional paid-in capital 7,330 7,175 Retained earnings 32,304 31,830 Accumulated other comprehensive loss ( 356 ) ( 323 ) Total stockholders' deficit ( 4,052 ) ( 2,744 ) Total liabilities and stockholders' deficit $ 27,728 $ 24,342 See Notes to Unaudited Consolidated Financial Statements. 4 Booking Holdings Inc. UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS (In millions, except share and per share data) Three Month

View Full Filing

View this 10-Q filing on SEC EDGAR