NORWALK, USA, 11 May 2021: Booking Holdings reported a net loss of USD55 million during the first quarter of 2021, compared with a net loss of USD699 million during Q1 2020.

The company said the results for the first quarter of both 2021 and 2020 had been significantly and negatively impacted due to the Covid-19 pandemic and the resulting economic conditions and government restrictions.

Revenue for the first quarter of 2021 stood at USD1.1 billion, a 50% decrease from the previous year. The net loss in the first quarter of 2021 was USD1.34 per diluted common share, compared with net loss per diluted common share of USD17.01 during the first quarter of 2020.

Non-GAAP net loss in the first quarter of 2021 was USD215
million, compared with non-GAAP net income in the first quarter of 2020 of
USD156 million. Non-GAAP net loss in the 1st quarter of 2021 was $5.26 per
diluted common share, compared with non-GAAP net income of USD3.77 per diluted
common share in the 1st quarter of 2020.

Adjusted EBITDA for the first quarter of 2021 was a loss of USD195 million, compared with adjusted EBITDA of USD290 million in the first quarter of 2020.

“We saw encouraging signs of improving booking trends in the first quarter that continued into April with notable strength in the US,” said Booking Holdings chief executive officer Glenn Fogel… “We expect there will be continued volatility in the recovery of global travel demand.”

Booking Holdings (NASDAQ: BKNG) is a leading provider of online travel and related services to consumers and local partners in more than 220 countries and territories through six primary brands: Booking.com, Priceline, agoda, Rentalcars.com, KAYAK and OpenTable