RTTNews | Nov 5, 2020 11:12PM EST

23:12 Thursday, November 5, 2020 (RTTNews.com) - Booking Holdings Inc. (BKNG) reported that its third-quarter net income was $801 million, a 59% decrease from the prior year. Net income was $19.49 per share, a 57% decrease from the previous year.

Net income for the third-quarter of 2020 included an unrealized gain on marketable equity securities of $730 million while the third quarter of 2019 included an unrealized loss on marketable equity securities of $49 million.

Additionally, the company recorded an impairment charge of $573 million for OpenTable and KAYAK goodwill and unrecognized tax benefits of $64 million related to French and Italian tax matters in the third quarter of 2020.

Non-GAAP net income in the quarter was $12.27 per share, a 73% decrease as compared to the prior year.

Total revenues for the quarter were $2.6 billion, a 48% decrease from the prior year, while it was down approximately a 49% on a constant-currency basis.

Analysts polled by Thomson Reuters expected the company to report earnings of $14.13 per share and revenues of $2.54 billion. Analysts' estimates typically exclude special items.

Third quarter gross travel bookings were $13.4 billion, a decrease of 47% over a year ago.

Room nights booked in the third-quarter decreased 43% over a year ago. The company's results for the three and nine months ended September 30, 2020 have been significantly and negatively impacted due to the COVID-19 pandemic and the resulting economic conditions and government orders.

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