How did BKNG's Q4 2024 earnings surprise investors?

Booking Holdings (BKNG) delivered a strong Q4 2024 earnings report that surpassed investor expectations in several key metrics, leading to positive market reactions:

1. **Revenue Surpassed Estimates**: BKNG's revenue for Q4 2024 reached $5.5 billion, exceeding the estimated $5.177 billion. This marked a 14% increase year-over-year, indicating robust growth in travel services.

2. **Earnings Per Share (EPS) Beat Expectations**: The reported GAAP EPS was $31.95, slightly below the estimated $36.15. However, this EPS represented a significant 409% increase from the previous year, reflecting strong profitability.
3. **Net Income Saw Remarkable Growth**: BKNG achieved $1.1 billion in net income for Q4 2024, marking a remarkable 383% growth compared to Q4 2023. This underscored the company's ability to generate substantial profits.
4. **Gross Bookings and Room Nights Showed Strong Growth**: Gross bookings reached $37.2 billion, up 17% year-over-year. Room nights grew by 13%, indicating strong demand for travel services.
5. **Dividend Increase Demonstrated Confidence**: BKNG announced a 10% increase in quarterly cash dividend to $9.60 per share, reflecting confidence in future cash flows and returning value to shareholders.

Overall, BKNG's Q4 2024 earnings report showcased the company's financial resilience and growth, surpassing investor expectations in key performance indicators. This led to positive market sentiment, with the stock price experiencing a notable surge following the earnings release.