Booking Holdings Takes $900 Million Hit to Quarterly Revenue Linked to FTC Action
The company said the charge reflects an FTC case over deceptive hotel ads and could lead to more than $1 billion in restitution and penalties.
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Reformatorisch Dagblad
Booking Holdings, the American parent company of Booking.com among others, reported lower revenue and profit in the past quarter. According to the travel company, demand for travel weakened somewhat towards the end of the past quarter. Booking Holdings attributes this, among other things, to unrest in several European cities, such as Paris, and the ongoing conflict in the Middle East.
Booking Holdings takes $1 billion hit to third-quarter results linked to FTC action
Nov 3 (Reuters) - Priceline parent Booking Holdings said on Tuesday it recorded a $900 million reduction in revenue and accrued a loss of $100 million related to an FTC action involving its subsidiary's connection to deceptive hotel ads. As a result,...
Booking Holdings takes $900 million hit to quarterly revenue linked to FTC action
Nov 3 : Priceline parent Booking Holdings said on Tuesday it recorded a $900 million reduction in revenue and accrued a loss of $100 million related to an FTC action involving its subsidiary's connection to deceptive hotel ads.As a result, the online travel agency's third-quarter revenue declined 1 per cent y
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