Why Booking Holdings Stock Was Soaring Today
Online travel agency (OTA) Booking Holdings (NASDAQ: BKNG) was enjoying the warmth and sunshine of earnings season on Friday. Following the release of its latest quarterly results, the company's shares were trading more than 9% higher in late-session action. At that point, they were trouncing the essentially flat performance of the S 500 index.
After market hours Thursday, Booking Holdings -- a conglomerate of digital travel assets such as Booking.com, Priceline.com, and Kayak.com -- announced its second-quarter earnings. The company earned $5.5 billion, representing a very healthy 27% increase year over year. That was on the back of gross travel bookings that shot 15% higher to just under $40 billion.
Those rises paled in comparison to the improvement in adjusted net income, which zoomed 79% higher to $1.4 billion, or $37.62 per share.
Source Fool.com
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