Booking Holdings Celebrates the Summer
In an investing world in which most market participants concentrate on quarterly results, staying ahead of expectations becomes vital. Online travel giant Booking Holdings (NASDAQ: BKNG) has seen its growth rates slow steadily over the past several years, but it's also done a good job of managing short-term expectations and then consistently exceeding them.
Coming into Wednesday's second-quarter financial report, Booking Holdings investors were comfortable with the idea that sales and earnings growth would slow from past levels, but they still wanted to see healthy performance from the online travel company. Booking did give investors more than they were expecting, and that was enough to satisfy them heading into the key summer travel season.
Booking Holdings had solid gains in the second quarter. Revenue of $3.85 billion was up 9% from year-ago levels, and that exceeded the 6% growth rate that most of those following the stock were expecting to see. Adjusted net income inched higher by 2.4% to $1.03 billion, but a big reduction in share count lifted adjusted earnings to $23.59 per share, easily outpacing the consensus forecast among investors for $22.71 per share.
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