BKNG Booking Holdings Inc

By Denny Jacob

Booking Holdings Inc. swung to a profit in the second quarter as the impact of the Covid-19 pandemic faded as global travel rebounded.

The online travel services provider reported a gain of $857 million, or $21.15 a share, compared with a loss of $167 million, or a loss of $4.08 a share, in the year-ago period. Adjusted earnings were $19.08 a share, above analysts' expectations of $18.19.

Revenue rose to $4.29 billion from $2.16 billion. Analysts polled by FactSet had expected $4.33 billion.

Gross travel bookings, which is the total dollar value of all travel services booked net of cancellations, increased 57% from a year earlier to $34.5 billion.

Chief Executive Glenn Fogel said the company expects record third-quarter revenue.

Write to Denny Jacob at denny.jacob@wsj.com

(END) Dow Jones Newswires

August 03, 2022 16:29 ET (20:29 GMT)

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