(Reuters) -Online travel agency Booking Holdings beat Wall Street expectations for second-quarter profit and revenue on Tuesday, as international bookings offset weak travel spending in the U.S.
Booking Holdings Surpasses Expectations with Strong International Bookings
Booking Holdings' Quarterly Performance
(Reuters) -Online travel agency Booking Holdings beat Wall Street expectations for second-quarter profit and revenue on Tuesday, as international bookings offset weak travel spending in the U.S.
Impact of International Bookings
Intracontinental travel in Asia, fueled by a surge in wealthy Chinese tourists visiting Southeast Asia and driving up prices, has helped travel companies partially offset slowing U.S. bookings.
Financial Highlights
About 25% of Booking's total reservations come from Asia.
Future Revenue Expectations
Booking Holdings said it expects third-quarter revenue growth in the range of 7% to 9% and room nights growth in the range of 3.5% to 5.5%.
The Norwalk, Connecticut-based company reported an adjusted quarterly profit of $55.40 per share, compared with analysts' estimates of $50.22 per share, according to data compiled by LSEG.
Total revenue for the quarter ended June 30 was $6.8 billion, up 16% from a year earlier. Analysts, on average, were expecting revenue of $6.57 billion.
(Reporting by Aishwarya Jain and Anshuman Tripathy in Bengaluru; Editing by Alan Barona)
