Booking Holdings rallies after strong bookings growth leads to earnings topper
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Booking Holdings (NASDAQ:BKNG) jumped in postmarket trading after topping estimates with its Q2 earnings report on Thursday.
Gross bookings rose 15% to $39.7B for the quarter vs. $38.15B consensus. Room nights rose 8.8% year-over-year, rental car days increased 24.0%, and airline tickets rose 53.3%. Total merchant bookings increased 39.9%, while agency bookings were down 4.5%.
Adjusted EBITDA soared 64% year-over-year to $1.8B vs. $1.5B consensus.
CEO update: "In the second quarter, we continued to see robust leisure travel demand, which helped drive stronger than expected room nights and gross bookings results in the quarter... We have seen these strong trends continue into July, and we are currently preparing for what we expect to be a record summer travel season in the third quarter."
Shares of Booking Holdings (BKNG) rallied 3.88% to $2,950.00 in postmarket trading vs. the 52-week range of $1,616.85 to $3,017.61. The online travel stock fell 1.56% during the regular session on Thursday.
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