5/7/2020, 10:06 PM (Source: TeleTrader)
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Booking's Q1 revenue drops 19% YoY to $2.3B

Booking Holdings Inc. announced on Thursday that the company's revenue for the first quarter of 2020 dropped 19% year-over-year to $2.3 billion. The company reported net loss of $699 million in the first quarter, compared to a net income of $765 million in the same quarter of 2019. The net loss in the first quarter of 2020 was $17.01 per diluted share, vs. net income of $16.85 per diluted share in the prior year.

"The COVID-19 pandemic has profoundly impacted our Company and the entire travel industry. We have taken immediate steps to stabilize the Company by reducing costs and bolstering our liquidity position," the Booking’s CEO Glenn Fogel said.

Booking shares were down 3.04% in after-hours trading.

Breaking the News / SR