Booking Holdings rallies after guiding for record revenue in Q3
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Booking Holdings (NASDAQ:BKNG) reported gross bookings were 57% higher in Q2 to $34.5B vs. $32.8B consensus with both agency and merchant demand strong compared to a year ago when post-vaccine travel was just beginning.
Room nights were 56.3% higher during the quarter to reach the pre-pandemic level once again and rental car days were up 22.4%. Airline tickets were 31.4% higher.
Adjusted EBITDA was reported at $1.1B vs. $48M a year ago
CEO update: "We continued to see very strong accommodation ADR growth, which helped drive a 38% increase in gross bookings, or a 48% increase on a constant currency basis, in the second quarter versus the second quarter of 2019."
Looking ahead, BKNG expects record Q3 revenue.
Shares of BKNG rose 4.32% in after-hours trading to $2,051.03.
The Seeking Alpha Quant Rating on Booking Holdings (BKNG) places it 10th out of 31 hotel and resort stocks.