Why Booking Holdings Stock Slipped Today
This summer tourism season might be red-hot, but investors were largely cool on Booking Holdings (NASDAQ: BKNG) stock on Thursday. The company reported its second-quarter results Wednesday evening, and the market reacted by sending its share price down by 1% in the following trading session.
This was an interesting development, as Booking Holdings actually topped analysts' consensus estimate for profitability. The online travel agency nearly doubled its total revenue on a year-over-year basis, to just over $4.29 billion. That was on a foundation of $34.5 billion in total bookings, up 57% from the prior-year period.
On the bottom line, Booking Holdings flipped to a non-GAAP net profit of $776 million ($19.08 per share) from its year-ago loss of $105 million. Prognosticators following the stock had only anticipated $18.25 per share in adjusted net profit. However, their collective estimate of $4.34 billion more or less matched reality.
Source Fool.com
