Booking Holdings Inc (NASDAQ:BKNG, XETRA:PCE1) shares rose 6% Wednesday after the online travel company reported second-quarter results that topped Wall Street expectations, with continued travel demand supporting growth across key metrics.
Booking Holdings reported adjusted earnings per share of $2.54, above estimates of $2.43 to $2.45, while revenue reached $7.35 billion, topping the $7.19 billion consensus
Gross bookings came in at $51 billion, compared with expectations of $49.4 billion, while room nights sold reached 325 million versus an estimated 320.5 million. Room nights increased 5% year over year, while gross bookings rose 9%, or about 8% on a constant-currency basis. Revenue grew 8%, or approximately 7% on a constant-currency basis.
Adjusted EBITDA increased 9% to $2.6 billion, while adjusted net income rose 8% to $2 billion. GAAP net income more than doubled to $2 billion, up 118% from the year-ago quarter, while GAAP earnings per share increased 131% to $2.53. Booking Holdings also raised its expected annual run-rate savings from its Transformation Program to approximately $650 million, with the company expecting to realize those savings by the end of 2027. “Despite continued geopolitical and macroeconomic uncertainty during the second quarter, the underlying desire to travel remained resilient, and we are pleased with our results, which reflect the strength of our global platform and the disciplined execution of our teams,” Glenn Fogel, chief executive officer of Booking Holdings, said.