Reserved holdings (BKNGMore) announced results for the second quarter of 2022. This was a significant improvement over the same period last year and exceeded Wall Street’s expectations. The company also forecasts record third-quarter earnings, fueled by strong growth momentum.
Booking Holdings provides an online platform for making travel and restaurant reservations. We offer our services through various platforms such as Booking.com, Priceline and OpenTable.
Booking Holdings bounced back to profitability
BKNG posted diluted earnings per share (EPS) of $19.08, compared to a net loss of $2.55 per share in the prior-year quarter. It also beat consensus estimates as analysts expected the company to post earnings of $18.19 per share. Profitability rebounded as the company recorded total travel bookings, which he reached $34.5 billion, up 57% from the same period last year. The number of nights booked increased by 56% year-on-year.
Revenue increased 99% year-over-year to $4.3 billion, in line with consensus expectations of $4.34 billion. The increase came as the company recovered from his COVID-19-induced slowdown and guest room nights exceeded his 2019 levels for the first time.
Glenn Fogel, CEO of Booking Holdings, is optimistic about the company’s future prospects. he wrote:
Rising Website Traffic Predicts Strong Results
TipRanks users of website traffic screeners shouldn’t be surprised by Booking Holdings’ strong performance. Booking Holdings’ website traffic growth already signaled solid Q2 results.
According to the tool, Booking Holdings’ websites recorded 578.9 million visitors worldwide in the second quarter, up 25.03% compared to the previous quarter. Moreover, year-to-date, Booking Holdings’ website traffic increased by 10.92% compared to the same period last year.
See how website traffic can help you research your favorite stocks
Is the reservation of the holdings a buy?
Wall Street is cautiously optimistic, with a medium buy consensus rating based on 16 buys and 7 holds. Booking Holdings’ average price target is $2,523.95, meaning it could rise 28.4% from current levels.
Important points for investors
Booking Holdings is firing on all cylinders, as evidenced by record revenue and profit growth in the second quarter. However, it is necessary to watch out for the slowdown in netbooking growth.
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