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Booking Holdings Inc.
BKNG,
shares rose in the extended session Thursday after the travel and booking site reported an earnings beat and forecast a record summer travel season. Booking shares rose more than 4% after hours, following a 1.6% decline in the regular session to close at $2,839.91. The company reported second-quarter net income of $1.29 billion, or $35.16 a share, compared with $857 million, or $21.07 a share, in the year-ago period. Adjusted earnings, which exclude stock-based compensation expenses and other items, were $37.62 a share, compared with $19.08 a share in the year-ago period. Revenue rose to $5.46 billion from $4.29 billion in the year-ago quarter. Analysts surveyed by FactSet had forecast $28.98 a share on revenue of $5.17 billion. “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 Glenn Fogel, Booking Chief Executive Officer, said in a statement. “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.”
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