Booking Holdings Stock Pops On Q2 Earnings, Revenue Beats – Booking Holdings (NASDAQ:BKNG)

Booking Holdings Inc. BKNG shares are soaring in after-hours trading Thursday on the heels of the company’s second-quarter earnings report.

What To Know: The company reported quarterly earnings of $37.62 per share, which beat the analyst consensus estimate of $28.80, a 97.17% increase from earnings of $19.08 per share in the same period last year.

The company reported quarterly sales of $5.46 billion, which beat the analyst consensus estimate of $5.17 billion and represents a 27.2% increase over sales of $4.29 billion in the same period last year.

Gross travel bookings, the total dollar value of all travel services booked by customers net of cancellations, were $39.7 billion, a 15% year-over-year increase. Room nights booked increased 9% on a year-over-year basis. 

“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,” said CEO Glenn Fogel.

“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. We are particularly excited about our recently announced generative AI-enabled travel assistants at both Priceline and Booking.com, and look forward to learning which elements customers value the most.”

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BKNG Price Action: Shares of BKNG were up 9.3% at $3,104.00 at the time of publication, according to Benzinga Pro.

Image by ThePixelman from Pixabay.