October 2, 2022
Chicago 12, Melborne City, USA
Finance

Booking Holdings stock surges on earnings beat as it forecasts ‘busy summer travel season’

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Shares of Booking Holdings Inc. rose in extended session on Wednesday as travel-reservation site operator Wall Street topped expectations and said it expects to benefit from a busy summer travel season.

Booking Holdings BKNG,
-0.12%
Shares rose 11% after falling 0.1% at $ 2,103.33 in the regular session.

The company reported a loss of $ 700 million, or $ 17.10 a share, in the first quarter, compared to a loss of $ 55 million or $ 1.34 per share in the year-ago period. Adjusted earnings were $ 3.90 per share versus a consistent loss of $ 5.26 per share in the previous period.

Revenue rose to $ 2.7 billion from $ 1.14 billion in the year-ago quarter. Analysts surveyed by Factset forecast earnings of 85 cents per share over $ 2.53 billion.

“Despite an uncertain macroeconomic environment, the second quarter of 2022 still sees global travel trends continue to strengthen and we are gearing up for a busy summer travel season ahead,” said Glenn Fogel, chief executive of Booking Holdings, in a statement. . “I’m excited about how well our teams are working to capture travel needs in this recovery environment and our progress in expanding our payment platform at Booking.com as we move toward our connected trip vision.”

Company earnings report Airbnb Inc. Following the strong earnings from ABNB,
+ 7.71%
And Expedia Group Inc. A narrow loss from EXPE,
-0.50%.

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