Booking Holdings Beats Forecasts as Vaccines Spur Travel Rebound
Booking Holdings Inc. reported gross bookings that beat analysts’ forecasts, as an increase in Covid-19 vaccination rates in some markets helped spur a travel rebound before the delta variant of the coronavirus set in. The shares jumped in extended trading. The online travel giant said gross bookings, which represent all travel services -- excluding cancellations -- booked by customers increased 77% from a year earlier to $23.
Booking Holdings Inc. reported gross bookings that beat analysts’ forecasts, as an increase in Covid-19 vaccination rates in some markets helped spur a travel rebound before the delta variant of the coronavirus set in. The shares jumped in extended trading. The online travel giant said gross bookings, which represent all travel services -- excluding cancellations -- booked by customers increased 77% from a year earlier to $23.7 billion in the three months ended in September, beating analysts’ projections for $21.6 billion, according to data compiled by Bloomberg. Revenue rose 77% to $4.68 billion, better than forecasts for $4.3 billion, according to a statement Wednesday