Booking Holdings boosted by record Q1 bookings, bullish outlook on summer travel
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Booking Holdings (NASDAQ:BKNG) shares surged in extended trading after adding to optimism on summer travel demand.

For the first quarter, the Norwalk, Connecticut-based travel technology company reported an 136% increase in total revenues to $2.7 billion and non-GAAP EPS of $3.90. The reported figures roared past consensus EPS and revenue estimates set at $1.18 and $2.53 billion, respectively.

Rooms sold in the quarter increased about 100% from the prior year, while airline bookings increased just over 69% from 2021. Gross bookings overall increased by 140% on a constant currency basis, moving in tandem with a similar increase in revenue, from the prior year.

"I am pleased to report a record $27 billion in gross bookings in the first quarter, the highest quarterly amount in our companyâs history," CEO Glenn Fogel said. "Despite an uncertain macroeconomic environment, we have seen continued strengthening of global travel trends so far in the second quarter of 2022, and we are preparing for a busy summer travel season ahead.â

Shares gained over 8% in after-hours trading, reversing losses marked in the past week as fears of eroding consumer strength continued to permeate.
Read more on recent turmoil in travel stocks.