NORWALK,
Conn., Aug. 3, 2022 /PRNewswire/ -- Booking
Holdings Inc. (NASDAQ: BKNG) today reported its 2nd
quarter 2022 financial results. Second quarter gross travel
bookings for Booking Holdings Inc. (the "Company," "Booking
Holdings," "we," "our," or "us"), which refers to the total dollar
value, generally inclusive of taxes and fees, of all travel
services booked by its customers, net of cancellations, were
$34.5 billion, an increase of 57%
from the prioryear quarter. Room nights booked in the
2nd quarter of 2022 increased 56% from the prior-year
quarter.
Booking Holdings' total revenues for the 2nd quarter
of 2022 were $4.3 billion, an
increase of 99% from the prioryear quarter. Net income for the
2nd quarter of 2022 was $857
million, compared with a net loss of $167 million in the prior-year quarter. Net
income per diluted common share in the 2nd quarter of
2022 was $21.07, compared with a net
loss per diluted common share of $4.08 in the prior-year quarter.
Non-GAAP net income in the 2nd quarter of 2022 was
$776 million, compared with a
non-GAAP net loss of $105 million in
the prior-year quarter. Non-GAAP net income per diluted common
share in the 2nd quarter of 2022 was $19.08, compared with a non-GAAP net loss per
diluted common share of $2.55 in the
prior-year quarter. NonGAAP net income (loss) for both periods
includes adjustments to exclude net gains on equity securities with
readily determinable fair values. Additionally, non-GAAP net income
(loss) includes an adjustment to exclude an investment-related
impairment charge in the 2nd quarter of 2022 and a loss
on early extinguishment of debt in the 2nd quarter of
2021. Adjusted EBITDA for the 2nd quarter of 2022 was
$1.1 billion, compared with adjusted
EBITDA of $48 million in the
prior-year quarter. The section below under the heading
"Non-GAAP Financial Measures" provides definitions and
information about the use of non-GAAP financial measures in this
press release, and the attached financial and statistical
supplement reconciles non-GAAP financial results with Booking
Holdings' financial results under GAAP.
"We reached another milestone in our company's recovery from the
impact of the pandemic with room nights for the second quarter
surpassing 2019 levels for the first time. We continued to see very
strong accommodation ADR growth, which helped drive a 38% increase
in gross bookings, or a 48% increase on a constant currency basis,
in the second quarter versus the second quarter of 2019," said
Glenn Fogel, Chief Executive Officer
of Booking Holdings. "Looking forward, we expect record Q3 revenue
and are very busy working with our customers and partners to help
enable an extremely busy summer travel season."
Non-GAAP Financial Measures
The Unaudited Consolidated Financial Statements have been
prepared in accordance with accounting principles generally
accepted in the United States of
America ("GAAP") and include all normal and recurring
adjustments that management of the Company considers necessary for
a fair presentation of its financial position and operating
results.
To supplement the Unaudited Consolidated Financial Statements,
the Company uses the following non-GAAP financial measures:
adjusted EBITDA, non-GAAP net income (loss), non-GAAP net income
(loss) per diluted common share and free cash flow (net cash
provided by (used in) operating activities less capital
expenditures). The presentation of non-GAAP financial information
should not be considered in isolation or as a substitute for, or
superior to, the financial information prepared and presented in
accordance with GAAP.
The Company uses non-GAAP financial measures for financial and
operational decision-making and as a basis to evaluate performance
and set targets for employee compensation programs. The Company
believes that these nonGAAP financial measures are useful for
analysts and investors to evaluate the Company's ongoing operating
performance because they facilitate comparison of the Company's
results for the current period and projected nextperiod results to
those of prior periods and to those of its competitors (though
other companies may calculate similar non-GAAP financial measures
differently from those calculated by the Company). These non-GAAP
financial measures, in particular adjusted EBITDA, non-GAAP net
income (loss) and free cash flow, are not intended to represent
funds available for Booking Holdings' discretionary use and are not
intended to represent or to be used as a substitute for operating
income (loss), net income (loss) or net cash provided by (used in)
operating activities as measured under GAAP. The items excluded
from these non-GAAP measures, but included in the calculation of
their closest GAAP equivalent, are significant components of the
Company's consolidated statements of operations and cash flows and
must be considered in performing a comprehensive assessment of
overall financial performance.
Non-GAAP net income (loss) is net income (loss) with the
following adjustments:
- excludes significant losses on assets classified as held for
sale,
- excludes gains and losses on equity securities with readily
determinable fair values,
- excludes the impact, if any, of significant gains and losses on
the sale of and impairment and credit losses on investments in
available-for-sale debt securities and significant gains and losses
on the sale of and valuation adjustments on investments in equity
securities without readily determinable fair values,
- excludes foreign currency transaction gains and losses on the
remeasurement of Euro-denominated debt and accrued interest that
are not designated as hedging instruments for accounting purposes
and debtrelated foreign currency derivative instruments used as
economic hedges,
- excludes losses on early extinguishment of debt and related
reverse treasury lock agreements which were designated as cash flow
hedges,
- excludes amortization expense of intangible assets,
- excludes noncash interest expense related to the amortization
of debt discount on our convertible debt, if applicable,
- excludes income taxes, if any, related to the maturity and
redemption of convertible notes held for investment, that were
reclassified from accumulated other comprehensive income (loss) to
income tax expense (benefit),
- excludes the income tax impact, if any, related to one-time
adjustments as a result of the U.S. Tax Cuts and Jobs Act enacted
in December 2017,
- excludes the impact of net unrecognized tax benefits related to
Italian tax matters, and
- the income tax impact of the non-GAAP adjustments mentioned
above and changes in tax estimates, as applicable.
In addition to the adjustments listed above regarding non-GAAP
net income (loss), adjusted EBITDA excludes depreciation expense,
interest and dividend income, and to the extent not included in the
adjustments listed above, interest expense and income tax expense
(benefit). In the event the Company reports a GAAP net income but a
nonGAAP net loss, dilutive shares that are included in the GAAP
weighted-average number of diluted common shares outstanding are
excluded from the non-GAAP weighted-average number of diluted
common shares outstanding. In the event the Company reports a GAAP
net loss but a non-GAAP net income, anti-dilutive shares that are
excluded from the GAAP weighted-average number of diluted common
shares outstanding are included in the non-GAAP weighted-average
number of diluted common shares outstanding.
We evaluate certain operating and financial measures on both an
as-reported and constant-currency basis. We calculate constant
currency by converting our current-year period results for
transactions recorded in currencies other than U.S. Dollars using
the corresponding prior-year period monthly average exchange rates
rather than the current-year period monthly average exchange
rates.
The attached financial and statistical supplement includes
reconciliations of our financial results under GAAP to non-GAAP
financial information for the three and six months ended
June 30, 2022 and 2021. We are not
able to provide a reconciliation between forward-looking adjusted
EBITDA and GAAP net income (loss) because we cannot predict certain
components of such reconciliation without unreasonable effort as
they arise from events in future periods.
Information About Forward-Looking Statements
This press release contains forward-looking statements, which
reflect the views of the Company's management regarding current
expectations based on currently available information about future
events. Forward-looking statements are not guarantees of future
performance and are subject to risks and uncertainties, such as the
adverse impact of the COVID-19 pandemic; adverse changes in market
conditions for travel services; the Company's ability to attract
and retain qualified personnel; adverse changes in relationships
with third parties on which the Company depends; the effects of
competition; growth and expansion of the business; rapid
technological and other market changes; impacts of impairments and
changes in accounting estimates; success of the Company's marketing
efforts; and other business and industry changes. Other risks and
uncertainties relate to cyberattacks and information security; tax,
legal, and regulatory risks; increased focus on environmental,
social, and governance responsibilities; the Company's facilitation
of payments; foreign currency exchange rates; success of the
Company's investments and acquisition strategy; and financial risks
relating to the Company's debt levels and stock price volatility.
For a detailed discussion of these and other risk factors that
could cause the Company's actual results to differ materially from
those described in the forward-looking statements included in this
press release, refer to the Company's most recent Annual Report on
Form 10-K filed with the Securities and Exchange Commission and any
subsequently filed Quarterly Reports on Form 10-Q. Unless required
by law, the Company undertakes no obligation to update publicly any
forward-looking statements, whether as a result of new information,
future events, or otherwise.
About Booking Holdings Inc.
Booking Holdings (NASDAQ: BKNG) is the world's leading provider
of online travel and related services, provided to consumers and
local partners in more than 220 countries and territories through
six primary consumerfacing brands: Booking.com, Priceline, Agoda,
Rentalcars.com, KAYAK and OpenTable. The mission of Booking
Holdings is to make it easier for everyone to experience the world.
For more information, visit BookingHoldings.com and follow us on
Twitter @BookingHoldings.
#BKNG_Earnings
Booking Holdings
Inc.
|
CONSOLIDATED BALANCE
SHEETS
|
(In millions, except
share and per share data)
|
|
|
|
|
|
June
30, 2022
|
December
31,
2021
|
|
(Unaudited)
|
|
ASSETS
|
|
|
|
|
Current
assets:
|
|
|
|
|
Cash and cash
equivalents
|
$
|
11,841
|
|
$
|
11,127
|
Accounts receivable,
net (Allowance for expected credit losses of $102 and $101,
respectively)
|
|
2,249
|
|
1,358
|
Prepaid expenses, net
(Allowance for expected credit losses of $30 and $29,
respectively)
|
|
492
|
|
404
|
Other current
assets
|
|
342
|
|
256
|
Total current
assets
|
|
14,924
|
|
13,145
|
Property and equipment,
net
|
|
858
|
|
822
|
Operating lease
assets
|
|
445
|
|
496
|
Intangible assets,
net
|
|
1,925
|
|
2,057
|
Goodwill
|
|
2,842
|
|
2,887
|
Long-term
investments
|
|
2,381
|
|
3,175
|
Other assets, net
(Allowance for expected credit losses of $5 and $18,
respectively)
|
|
1,118
|
|
1,059
|
Total
assets
|
$
|
24,493
|
|
$
|
23,641
|
LIABILITIES AND STOCKHOLDERS'
EQUITY
|
|
|
|
|
Current
liabilities:
|
|
|
|
|
Accounts
payable
|
$
|
2,240
|
|
$
|
1,586
|
Accrued expenses and
other current liabilities
|
|
2,364
|
|
1,765
|
Deferred merchant
bookings
|
|
4,395
|
|
906
|
Short-term
debt
|
|
1,283
|
|
1,989
|
Total current
liabilities
|
|
10,282
|
|
6,246
|
Deferred income
taxes
|
|
805
|
|
905
|
Operating lease
liabilities
|
|
323
|
|
351
|
Long-term U.S.
transition tax liability
|
|
711
|
|
825
|
Other long-term
liabilities
|
|
180
|
|
199
|
Long-term
debt
|
|
8,190
|
|
8,937
|
Total
liabilities
|
|
20,491
|
|
17,463
|
Commitments and
contingencies
|
|
|
|
|
Stockholders'
equity:
|
|
|
|
|
Common stock, $0.008
par value,
Authorized shares:
1,000,000,000
Issued shares:
63,766,460 and 63,584,444, respectively
|
|
—
|
|
—
|
Treasury stock,
23,618,459 and 22,518,391 shares, respectively
|
|
(26,664)
|
(24,290)
|
Additional paid-in
capital
|
|
6,278
|
6,159
|
Retained
earnings
|
|
24,640
|
24,453
|
Accumulated other
comprehensive loss
|
|
(252)
|
(144)
|
Total
stockholders' equity
|
|
4,002
|
6,178
|
Total liabilities and
stockholders' equity
|
$
|
24,493
|
$
|
23,641
|
Booking Holdings
Inc.
|
UNAUDITED
CONSOLIDATED STATEMENTS OF OPERATIONS
|
(In millions, except
share and per share data)
|
|
|
|
|
Three
Months Ended
June 30,
|
Six Months
Ended
June 30,
|
|
2022
|
2021
|
2022
|
2021
|
Agency
revenues
|
$
|
2,301
|
$
|
1,328
|
$
|
3,751
|
$
|
2,045
|
Merchant
revenues
|
|
1,749
|
|
661
|
|
2,799
|
|
1,034
|
Advertising and other
revenues
|
|
244
|
|
171
|
|
439
|
|
222
|
Total
revenues
|
|
4,294
|
|
2,160
|
|
6,989
|
|
3,301
|
Operating
expenses:
|
|
|
|
|
|
|
|
|
Marketing
expenses
|
|
1,737
|
|
988
|
|
2,884
|
|
1,449
|
Sales and other
expenses
|
|
465
|
|
206
|
|
804
|
|
318
|
Personnel, including
stock-based compensation of $108, $90, $201 and $199,
respectively
|
|
635
|
|
686
|
|
1,231
|
|
1,238
|
General and
administrative
|
|
207
|
|
134
|
|
365
|
|
253
|
Information
technology
|
|
137
|
|
93
|
|
271
|
|
180
|
Depreciation and
amortization
|
|
107
|
|
108
|
|
218
|
|
221
|
Restructuring,
disposal, and other exit costs
|
|
6
|
|
1
|
|
42
|
|
9
|
Total operating
expenses
|
|
3,294
|
|
2,216
|
|
5,815
|
|
3,668
|
Operating income
(loss)
|
|
1,000
|
|
(56)
|
|
1,174
|
|
(367)
|
Interest
expense
|
|
(76)
|
|
(81)
|
|
(144)
|
|
(179)
|
Other income
(expense), net
|
|
220
|
|
96
|
|
(735)
|
|
227
|
Income (loss) before
income taxes
|
|
1,144
|
|
(41)
|
|
295
|
|
(319)
|
Income tax expense
(benefit)
|
|
287
|
|
126
|
|
138
|
|
(97)
|
Net income
(loss)
|
$
|
857
|
$
|
(167)
|
$
|
157
|
$
|
(222)
|
Net income (loss)
applicable to common stockholders per basic common share
|
$
|
21.15
|
$
|
(4.08)
|
$
|
3.86
|
$
|
(5.42)
|
Weighted-average number
of basic common shares outstanding (in 000's)
|
|
40,512
|
|
41,054
|
|
40,715
|
|
41,014
|
Net income (loss)
applicable to common stockholders per diluted common
share
|
$
|
21.07
|
$
|
(4.08)
|
$
|
3.84
|
$
|
(5.42)
|
Weighted-average
number of diluted common shares outstanding (in 000's)
|
|
40,665
|
|
41,054
|
|
40,927
|
|
41,014
|
Booking Holdings
Inc.
|
UNAUDITED
CONSOLIDATED STATEMENTS OF CASH FLOWS
|
(In
millions)
|
|
|
Six
Months Ended June 30,
|
|
2022
|
2021
|
OPERATING
ACTIVITIES:
|
|
|
|
|
Net income
(loss)
|
$
|
157
|
$
|
(222)
|
Adjustments to
reconcile net income (loss) to net cash provided by operating
activities:
|
|
|
|
|
Depreciation and
amortization
|
|
218
|
|
221
|
Provision for expected
credit losses and chargebacks
|
|
113
|
|
37
|
Deferred income tax
benefit
|
|
(165)
|
|
(120)
|
Net losses (gains) on
equity securities
|
|
806
|
|
(427)
|
Stock-based
compensation expense and other stock-based payments
|
|
201
|
|
204
|
Operating lease
amortization
|
|
81
|
|
91
|
Unrealized foreign
currency transaction gains related to Euro-denominated
debt
|
|
(68)
|
|
(54)
|
Loss on early
extinguishment of debt
|
|
—
|
|
242
|
Other
|
|
40
|
|
47
|
Changes in assets and
liabilities:
|
|
|
|
|
Accounts
receivable
|
|
(1,116)
|
|
(820)
|
Prepaid expenses and
other current assets
|
|
(181)
|
|
(173)
|
Deferred merchant
bookings and other current liabilities
|
|
4,861
|
|
1,973
|
Long-term assets and
liabilities
|
|
(568)
|
|
(54)
|
Net cash provided by
operating activities
|
|
4,379
|
|
945
|
INVESTING
ACTIVITIES:
|
|
|
|
|
Purchase of
investments
|
|
(12)
|
|
(15)
|
Additions to property
and equipment
|
|
(195)
|
|
(124)
|
Other investing
activities
|
|
(36)
|
|
3
|
Net cash used in
investing activities
|
|
(243)
|
|
(136)
|
FINANCING
ACTIVITIES:
|
|
|
|
|
Proceeds from the
issuance of long-term debt
|
|
—
|
|
2,015
|
Payments on maturity
and redemption of debt
|
|
(1,102)
|
|
(1,982)
|
Payments for
repurchase of common stock
|
|
(2,288)
|
|
(150)
|
Other financing
activities
|
|
13
|
|
(21)
|
Net cash used in
financing activities
|
|
(3,377)
|
|
(138)
|
Effect of exchange rate
changes on cash and cash equivalents and restricted cash and cash
equivalents
|
|
(44)
|
|
(1)
|
Net increase in cash
and cash equivalents and restricted cash and cash
equivalents
|
|
715
|
|
670
|
Total cash and cash
equivalents and restricted cash and cash equivalents, beginning of
period
|
|
11,152
|
|
10,582
|
Total cash and cash
equivalents and restricted cash and cash equivalents,
end of period
|
$
|
11,867
|
$
|
11,252
|
SUPPLEMENTAL CASH FLOW
INFORMATION:
|
|
|
|
|
|
Cash paid during the
period for income taxes
|
$
|
337
|
$
|
406
|
Cash paid during the
period for interest
|
$
|
145
|
$
|
164
|
Booking Holdings
Inc.
|
UNAUDITED
RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL
INFORMATION
|
(In millions, except
share and per share data) (1)
|
|
RECONCILIATION OF
NET INCOME (LOSS) TO ADJUSTED EBITDA
|
Three Months
Ended
June 30,
|
Six Months
Ended
June 30,
|
|
|
2022
|
2021
|
2022
|
2021
|
|
Net income
(loss)
|
$
|
857
|
$
|
(167)
|
$
|
157
|
$
|
(222)
|
|
|
|
|
|
|
|
|
|
|
(a)
|
Depreciation and
amortization
|
|
107
|
|
108
|
|
218
|
|
221
|
(b)
|
Loss on assets
classified as held for sale
|
|
—
|
|
—
|
|
36
|
|
—
|
(a)
|
Interest and dividend
income
|
|
(24)
|
|
(4)
|
|
(27)
|
|
(8)
|
(a)
|
Interest
expense
|
|
76
|
|
81
|
|
144
|
|
179
|
(c)
|
Net (gains) losses on
equity securities with readily determinable fair values
|
|
(365)
|
|
(391)
|
|
622
|
|
(423)
|
(d)
|
Impairment of
investment
|
|
184
|
|
—
|
|
184
|
|
—
|
(e)
|
Foreign currency
transaction (gains) losses on the
remeasurement of
certain Euro-denominated debt and accrued interest and debt-related
foreign currency derivative instruments
|
|
(38)
|
|
37
|
|
(78)
|
|
(54)
|
(a)
|
Income tax expense
(benefit)
|
|
287
|
|
126
|
|
138
|
|
(97)
|
|
Adjusted
EBITDA
|
$
|
1,086
|
$
|
48
|
$
|
1,396
|
$
|
(147)
|
|
Adjusted EBITDA as a % of Total
Revenues
|
|
25.3 %
|
|
2.2 %
|
|
20.0 %
|
|
(4.5) %
|
RECONCILIATION OF
NET INCOME (LOSS) TO NON- GAAP NET INCOME (LOSS) AND
NON-GAAP NET
INCOME (LOSS) PER DILUTED COMMON SHARE
|
Three Months
Ended
June 30,
|
Six Months
Ended June 30,
|
|
2022
|
2021
|
2022
|
2021
|
Net income
(loss)
|
$
|
857
|
$
|
(167)
|
$
|
157
|
$
|
(222)
|
|
|
|
|
|
|
|
|
|
(b) Loss on assets classified as held for
sale
|
|
—
|
|
—
|
|
36
|
|
—
|
(c) Net (gains) losses on equity
securities with readily determinable fair values
|
|
(365)
|
|
(391)
|
|
622
|
|
(423)
|
(d) Impairment of investment
|
|
184
|
|
—
|
|
184
|
|
—
|
(e) Foreign currency transaction (gains)
losses on the remeasurement of certain Euro-denominated debt and
accrued interest and debt-related foreign currency derivative
instruments
|
|
(38)
|
|
37
|
|
(78)
|
|
(54)
|
(f)
Losses on early extinguishment of debt and related reverse
treasury lock agreements
|
|
—
|
|
257
|
|
—
|
|
257
|
(g) Amortization of intangible
assets
|
|
56
|
|
41
|
|
112
|
|
82
|
(h) Debt discount amortization
related to convertible debt
|
|
—
|
|
10
|
|
—
|
|
22
|
(i) Net unrecognized tax
benefits related to Italian tax matters
|
|
—
|
|
—
|
|
—
|
|
16
|
(j) Tax impact of Non-GAAP
adjustments
|
|
82
|
|
107
|
|
(97)
|
|
2
|
Non-GAAP Net income (loss)
|
$
|
776
|
$
|
(105)
|
$
|
937
|
$
|
(320)
|
Weighted-average number of
diluted common shares outstanding (in 000's)
|
|
40,665
|
|
41,054
|
|
40,927
|
|
41,014
|
Non-GAAP Net income (loss) per
diluted common share
|
$
|
19.08
|
$
|
(2.55)
|
$
|
22.89
|
$
|
(7.80)
|
RECONCILIATION OF NET CASH PROVIDED BY OPERATING
ACTIVITIES TO
FREE CASH FLOW
|
|
Six Months Ended
June 30,
|
|
2022
2021
|
Net cash provided by
operating activities
|
$
|
4,379
$
945
|
(k) Additions to property and
equipment
|
|
(195)
(124)
|
Free cash
flow
|
$
|
4,184
$
821
|
Free cash flow as a
% of Total Revenues
|
|
59.9
%
24.9 %
|
|
(1)
Amounts may not total due to rounding.
|
Notes:
(a) Amounts are excluded from Net income (loss) to calculate
Adjusted EBITDA.
(b) Loss on assets classified as held for sale is recorded in
Operating expenses and excluded from Net income (loss) to calculate
Non-GAAP Net income (loss) and Adjusted EBITDA.
(c) Net (gains) losses on equity securities with readily
determinable fair values are recorded in Other income (expense),
net and excluded from Net income (loss) to calculate Non-GAAP Net
income (loss) and Adjusted EBITDA.
(d) Impairment of investment in Yanolja Co., Ltd. equity
securities is recorded in Other income (expense), net and excluded
from Net income (loss) to calculate Non-GAAP Net income (loss) and
Adjusted EBITDA.
(e) Foreign currency transaction (gains) losses on the
remeasurement of Euro-denominated debt and accrued interest that
are not designated as hedging instruments for accounting purposes
and debt-related foreign currency derivative instruments used as
economic hedges are recorded in Other income (expense), net and
excluded from Net income (loss) to calculate Non-GAAP Net income
(loss) and Adjusted EBITDA.
(f) Loss of $242 million on early
extinguishment of debt and losses of $15
million on related reverse treasury lock agreements which
were designated as cash flow hedges are recorded in Other income
(expense), net and excluded from Net income (loss) to calculate
Non-GAAP Net income (loss) and Adjusted EBITDA.
(g) Amortization of intangible assets is recorded in
Depreciation and amortization and excluded from Net income (loss)
to calculate Non-GAAP Net income (loss).
(h) Noncash interest expense related to the amortization of debt
discount on convertible debt is recorded in Interest expense and
excluded from Net income (loss) to calculate Non-GAAP Net income
(loss). The Company adopted Financial Accounting Standards Board
Accounting Standards Update 2020-06 on January 1, 2022 and such debt discount
amortization is not recorded in the financial statements for
periods after that date.
(i) Net unrecognized tax benefits related to Italian tax matters
is recorded in Income tax expense (benefit) and excluded from Net
income (loss) to calculate Non-GAAP Net income (loss).
(j) Reflects the tax impact of Non-GAAP adjustments above and
changes in tax estimates which are excluded from Net income (loss)
to calculate Non-GAAP Net income (loss).
(k) Cash used for additions to property and equipment is
included in the calculation of Free cash flow.
For a more detailed discussion of the adjustments described
above, please see the section in this press release under the
heading "Non-GAAP Financial Measures" which provides definitions
and information about the use of non-GAAP financial
measures.
Booking Holdings Inc.
Statistical Data
In millions(1)
(Unaudited)
Units Sold
|
2Q20
|
3Q20
|
4Q20
|
1Q21
|
2Q21
|
3Q21
|
4Q21
|
1Q22
|
2Q22
|
Room Nights
|
28
|
127
|
76
|
99
|
157
|
183
|
151
|
198
|
246
|
Year/Year (Decline) Growth
|
(86.7) %
|
(43.1) %
|
(60.4) %
|
(20.1) %
|
457.5 %
|
43.9 %
|
99.9 %
|
99.7 %
|
56.3 %
|
|
|
|
|
|
|
|
|
|
|
Rental Car
Days
|
2
|
9
|
8
|
10
|
13
|
13
|
11
|
15
|
16
|
Year/Year (Decline) Growth
|
(90.4) %
|
(55.6) %
|
(52.2) %
|
(15.1) %
|
558.8 %
|
44.0 %
|
35.8 %
|
53.0 %
|
22.4 %
|
|
|
|
|
|
|
|
|
|
|
Airline
Tickets
|
1
|
2
|
2
|
3
|
4
|
4
|
4
|
5
|
6
|
Year/Year (Decline) Growth
|
(69.7) %
|
(9.3) %
|
4.0 %
|
62.1 %
|
626.7 %
|
154.8 %
|
108.0 %
|
69.1 %
|
31.4 %
|
|
|
|
|
|
|
|
|
|
|
Gross Bookings(2)
|
2Q20
|
3Q20
|
4Q20
|
1Q21
|
2Q21
|
3Q21
|
4Q21
|
1Q22
|
2Q22
|
Agency
|
$ 1,535
|
$ 9,521
|
$ 5,098
|
$ 8,704
|
$ 15,290
|
$ 14,872
|
$ 11,875
|
$ 16,286
|
$ 19,448
|
Merchant
|
771
|
3,861
|
2,215
|
3,232
|
6,665
|
8,812
|
7,136
|
11,007
|
15,097
|
Total
|
$ 2,306
|
$ 13,382
|
$ 7,313
|
$ 11,935
|
$ 21,956
|
$ 23,684
|
$ 19,011
|
$ 27,293
|
$ 34,545
|
|
|
|
|
|
|
|
|
|
|
Gross Bookings Year/ Year (Decline)
Growth
|
|
|
|
|
|
|
|
|
|
Agency
|
(91.8) %
|
(47.4) %
|
(64.1) %
|
4.6 %
|
895.6 %
|
56.2 %
|
132.9 %
|
87.1 %
|
27.2 %
|
Merchant
|
(88.0) %
|
(46.1) %
|
(65.9) %
|
(20.7) %
|
764.4 %
|
128.2 %
|
222.2 %
|
240.6 %
|
126.5 %
|
Total
|
(90.8) %
|
(47.1) %
|
(64.7) %
|
(3.7) %
|
851.7 %
|
77.0 %
|
160.0 %
|
128.7 %
|
57.3 %
|
Constant-currency Basis
|
(91) %
|
(48) %
|
(65) %
|
(6) %
|
802 %
|
75 %
|
164 %
|
140 %
|
73 %
|
|
|
2Q20
|
3Q20
|
4Q20
|
1Q21
|
2Q21
|
3Q21
|
4Q21
|
1Q22
|
2Q22
|
Total Revenues
|
$
630
|
$ 2,640
|
$ 1,238
|
$ 1,141
|
$ 2,160
|
$ 4,676
|
$ 2,981
|
$ 2,695
|
$ 4,294
|
Year/Year (Decline) Growth
|
(83.7) %
|
(47.6) %
|
(62.9) %
|
(50.2) %
|
243.2 %
|
77.1 %
|
140.7 %
|
136.3 %
|
98.7 %
|
Constant-currency Basis
|
(83) %
|
(49) %
|
(63) %
|
(51) %
|
229 %
|
76 %
|
146 %
|
146 %
|
116 %
|
(1)Amounts may not total due to
rounding.
(2) Gross bookings is an operating and
statistical metric that captures the total dollar value, generally
inclusive of taxes and fees, of all travel services booked by our
customers, net of cancellations.
View original
content:https://www.prnewswire.com/news-releases/booking-holdings-reports-financial-results-for-2nd-quarter-2022-301599441.html
SOURCE Priceline.com