Categories AlphaGraphs, Earnings, LATEST, Other Industries
Booking Holdings reports better-than-expected results for Q2; guides Q3
Booking Holdings (NASDAQ: BKNG) reported stronger than expected earnings for the second quarter aided by a 9% increase in revenues. The top-line, which benefitted from strong bookings growth, also topped the Street view. The management provided guidance for the third quarter. The stock gained about 5% following the announcement.
Earnings, on an adjusted basis, rose to $23.59 per share from $20.67 per share in the second quarter of 2018. Net income, including special items, was $979 million or $22.44 per share, compared to $978 million last year. The bottom-line also came in above the estimates.
At $3.85 billion, revenues were higher by 9% from the year-ago period. Gross travel bookings moved up 5% to $25 billion during the quarter.
“Booking Holdings executed another strong quarter as we witnessed a solid start to the summer travel season. Globally, our accommodation business booked 213 million room nights in the second quarter, up 12% over the same period last year,” said Glenn Fogel, Chief Executive Officer of Booking Holdings.
Also read: Walt Disney Q3 earnings call insights
Looking ahead, the company expects revenue growth in the range of 2-4% in the third quarter. Unadjusted earnings are forecast to be between $42.60 per share and $43.60 and per share. The outlook for adjusted earnings is $43.60-$44.60 per share.
Total room nights booked and gross travel bookings are forecast to grow 6-8% and 1.5-3.5%, respectively. The management currently expects adjusted EBITDA in the range of $2.40 billion to $2.45 billion for the September quarter.
Rival travel company Expedia (EXPE) last month reported a double-digit increase in second-quarter earnings, aided by strong booking growth that pushed up revenues by 9%. Meanwhile, TripAdvisor (TRIP) will be publishing results for its most recent quarter on Thursday before the opening bell.
For the shares of Booking Holdings, it has been a rollercoaster ride for more than a year, losing about 5% during that period. Since the beginning of the year, the stock has gained around 4%. It closed Wednesday’s regular session higher.
Most Popular
KBH Earnings: KB Home Q1 profit drops on lower sales, misses estimates
Homebuilder KB Home (NYSE: KBH) on Monday announced financial results for the first quarter of 2025, reporting lower revenues and profit. The bottom line fell short of expectations. First-quarter net
Can Nike (NKE) achieve sustainable growth under new leadership?
Nike, Inc. (NYSE: NKE) is banking on innovations in its product portfolio and improvements in the operating environment to regain strength, while it continues to grapple with multiple headwinds affecting
Here’s how Lennar (LEN) is navigating a challenging macroeconomic environment
Shares of Lennar Corporation (NYSE: LEN) gained over 1% on Monday. The stock has dropped 11% over the past three months. The homebuilder grew its revenues in the first quarter
