Booking posts Q2 beat on strong travel demand

Investing.com -- Booking Holdings beat Wall Street expectations for the second quarter, posting strong growth in room nights and revenue.

But its shares were down 2.5% in after-hours on cautious outlook for the third quarter.

The online travel giant reported earnings of $55.40 per share, beating the consensus estimate of $50.14.

Revenue rose 17% from a year earlier to $6.8 billion, ahead of the $6.54 billion forecast by analysts.

CEO Glenn Fogel said Booking (NASDAQ: BKNG) saw 8% growth in room nights and “double-digit” increases in both gross bookings and revenue, driven by demand across its travel segments.

While travel demand remains steady, Booking noted tougher year-over-year comparisons in August and September and flagged the risk of disruption from macroeconomic or geopolitical uncertainty.

For the third quarter, Booking expects adjusted EBITDA between $3.9 billion and $4.0 billion, and room night growth of 3.5% to 5.5%.

You May Also Be Interested In

• Citizens launches transportation coverage, names FedEx a top large-cap pick
• HSBC says spike in oil prices does not alter bullish view on risk assets
• Analyst says selloff in this memory stock creates long-term buying opportunity