Booking Holdings: Q2 Earnings Snapshot | Money
NORWALK, Conn. (AP) — Booking Holdings Inc. (BKNG) on Wednesday reported a second-quarter loss of $167 million, after reporting a profit in the same period a year earlier.
The Norwalk, Connecticut-based company said it had a loss of $4.08 per share. Losses, adjusted for non-recurring costs, came to $2.55 per share.
The results surpassed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for a loss of $2.69 per share.
The online booking service posted revenue of $2.16 billion in the period, which also beat Street forecasts. Nine analysts surveyed by Zacks expected $1.92 billion.
Booking Holdings shares have fallen 6.5% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $2,083.37, an increase of 24% in the last 12 months.
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