Booking Holdings Inc. BKNG, -0.51% shares fell 6.8% in the extended session Wednesday after the online travel company missed revenue expectations and issued weaker-than-expected guidance.
The company reported fourth-quarter net income of $646 million, or $13.86 a share, compared with losses of $555 million, or $11.41 a share, in the year-ago period. Adjusted for items such as changes to the U.S. tax code and paper losses in its investments, earnings were $22.49 a share, compared with $16.86 a share in the year-ago quarter. Revenue rose to $3.21 billion from $2.8 billion in the year-ago period. Analysts surveyed by FactSet had estimated adjusted earnings of $19.
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