Booking Beats Estimates on Outlook, Plans a 25-for-1 Split

Booking Holdings Inc. reported better-than-expected first-quarter gross bookings, indicating continued strength across the travel industry.

Gross bookings are expected to rise 15% at the midpoint, the Priceline owner said in a statement, topping the 13% increase analysts had projected. The metric, which reflects the total dollar value of travel services booked by customers net of cancellations, is a key driver of revenue. Its revenue outlook also beat expectations at the midpoint.