results XXXX found second non-GAAP I'll the Thank far of quarter. to in color quarter be and trends the Information so comparable our All review in reconciliation relative release. you, earnings Glenn rates period to growth regarding otherwise and results on provide our for some good ‘XX results we've can indicated. in afternoon. seen first GAAP unless the for
on the nights to improved in we first earnings January in so the Ukraine. just for On XXXX call of our Now quarter. far back first versus XX, we've terrible February in XX% discussed XXXX. earnings room broke seen trends February hours getting to results flat our the our in February Russia after invaded half With news call about after the the on declining
negative As in trends, impact on of as Eastern of a immediate about loss reservations impact night early a services month, result, for levels Russia line February we the room particularly nights cancellations in this we Europe. room in came Belarus. In saw of new This Despite booking the as bookings, led of March, levels. the towards end an month these elevated significantly well countries. of XXXX to and travel of full for suspended with in
mainly by that our some We the Eastern from ending we week trends X, above we in the saw room March Europe, about by Additionally, trend for driven of XX%. overall were disclosed in lesser with is where we March week and Europe, as which nights nights a were month, down XXXX to a slowdown that slowdown room in And news extent remained levels. only mostly down improve that Russia, took within booking which to during saw pleased modest Western Europe, primarily I'm invasion. resulting the say pullback the February. been total by travelers driven X% the Europe, compared in March, first for about in was
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party to take QX better underlying expectations, expense due marketing than expense, which mainly gross of About levels. Sales higher. is compared through Marketing bookings XXXX XXXX third versus points were variable bookings a decreased in Our XXXX volume a to a QX as other as unexpected about and up costs. which payments booking.com’s XXXX. up were in percentage of versus due Marketing QX center QX, accommodation and rates highly higher higher a gross and basis were our is QX expenses ROIs. XX% XX% XXXX, line other gross with X% call from XXXX, about versus processed XX about XX in line decreased expenses expense sales bookings platform merchant our QX gross points to percentage of to bookings QX XX% of were basis
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saw Non-GAAP net down However, XX%, was non-GAAP in of results more million in XXXX. $XXX down was which significantly sequentially aligns QX of commentary you EBITDA pre-COVID EPS versus with than XX% our which income is seasonal the $X.XX and decline February.
operating in had on due QX million about for which and We basis, on XX% $XXX to assets a base strategic loss loss million was GAAP included an benefit million the a in on strategic income unrealized million a investments sale of related lower net earnings. from we of great QX On non-GAAP lower tax rate the discrete Our QX. $XXX impact our discussed a tax quarter. in $XX of loss of last a partnership we to $XXX Majorelle XX% than quarter, GAAP recorded XXXX held
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of QX of of the share debt ending in balance million $XX.X down $XX.X billion cash margin QX QX in Our investment and by billion ending driven about declining $XXX maturity, $X.X balance a primarily strategic was of working about our of cash payments versus $X.X for our and free balance repurchases driven billion, bookings which value reduce in which increase an from our deferred billion, investment was resulting offset our These in by about merchant by cash entirely partially investments. change positive capital, balance. factors flow were almost the
As we quarter to outstanding on shareholders April, returning repurchased share shares in about $X purchases authorization we started last to January. we which capital just our in And in disclosed, to of QX, $XXX million. million early addition brings over in
As within complete the expect said remaining years. before, next our we three authorization we to
new versus in Now and about to X% percent percent had encouraging Russia, XXXX, driven strong, improving and growth growth was from nights recovers over $XX bookings bookings world April XX% continued gross moving rest XXXX, almost international in room about and increased improved in was of slightly strength, growth, accounted nights XXXX. strong very April in April plans by The over teens down to flight March improvement travel down April thoughts up very April improvements most QX. decline April Russia, US and demand versus XXXX. driven the XX% room bookings. our second Belarus, room as high nights in increased in increased high April versus nights room bookings Europe gross on in teens also international an All billion, April. Asia from up in typically mix Ukraine. April XX% mainly improvement Domestic increased doubled room monthly nights continued an about of room April room XX% record. our versus well by digit International which strength in the the XX% QX. gross for pre-COVID. Growth all in to XX% excluding to in driven accommodation April Belarus of declined from levels, was room in XXXX. growth ADR versus Europe quarter, a regions primarily by XX% Europe, was from down XXXX the and versus nights to in increase March, were for QX. compared nights excluding as show nights the Ukraine
to the predict is confidence the continued environment encouraging difficult quarter still remainder it's develop. trends nights uncertain to While April, see for in how and room improvements will with of into the
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during QX precise The we take of predict And rates impact the the timing, on do our difficult expect a and also by rates. length to take bookings the the due it rate windows is as recovery into on to know a take year there for the to impact impact negative during rates XXXX. by expected in timing is timing reminder, the the As to timing of relative know the year. coming year. booking was We our XXXX of impacted
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the our and questions. seen we for We’ll year our take our rates expanding in points on We're are be April, full confident better Timing trends product strengthening margins acquisition customer higher timing the than underlying remain XXXX. EBITDA EBITDA than our and also margins not EBITDA few our now encouraged expectations QX the a the take over Shawn, that for impacted to and accommodation for for approach you, will will We adjusted stable. please the year. for year. guidance impacted expected right the and we've If expect results offerings focus Q&A. negatively is by
