Booking Holdings posts record Q3 results, ISG meets earnings expectations but misses revenue forecast

Booking Holdings (NASDAQ:), previously known as The Priceline Group, has reported record Q3 FY2023 results on Thursday. The world’s largest online travel agency noted a 21.3% Year-over-Year (YoY) surge in revenue to $7.34 billion and non-GAAP EPS of $72.32, up from $41.98 the previous year, surpassing analyst estimates by 1.07% and 6.49% respectively. The significant increase in room nights booked, which rose by 36 million YoY to reach 276 million, was attributed to a strong summer travel season by CEO Glenn Fogel. Despite these positive figures, the company’s free cash flow fell by 20.9% from the previous quarter to $1.3 billion.

Over the last three years, Booking’s vast assortment of flights, hotels, and accommodations has propelled an average annual revenue growth of 61.4%.

On the same day, Information Services Group Inc. (NASDAQ:), a Stamford, Connecticut-based market advisory service, also announced its Q3 earnings with a profit of $3.2 million or 6 cents per share. After adjusting for one-time gains and costs, earnings were 11 cents per share, in line with the forecast by four analysts including Zacks Investment Research.

However, ISG’s revenue of $71.8 million missed the expected $74.2 million projected by analysts. Looking ahead to the current quarter ending in December, ISG anticipates its revenue to range from $68 million to $71 million.

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