Booking Holdings Beats Q3 Expectations Thanks To Strong Summer Travel Season: The Details

Booking Holdings Inc. BKNG shares are trading lower in Thursday's after-hours session after the company reported third-quarter earnings.

What To Know: Booking Holdings posted earnings of $72.32 per share, exceeding consensus estimates of $67.61.

Revenue of $7.3 billion beat the $7.26 billion estimate, representing year-over-year growth of 21.3%.

Gross travel bookings, net of cancellations, were $39.8 billion, an increase of 24% from the prior year quarter. Room nights booked increased 15% year-over-year.

The company ended the quarter with cash and equivalents of $13.29 billion.

"We are pleased to report record quarterly room nights, gross bookings, revenue, and net income driven by a strong summer travel season," said Glenn Fogel, CEO of Booking Holdings. "We are encouraged by the resilience of leisure travel demand, and we remain focused on executing against our key strategic priorities, which helps position our business well for the long term."

Related Link: Fortinet's Mixed Q3 Results Sends Stock Falling After-Hours - Here's Why

BKNG Price Action: Shares of BKNG were down 4.57% at $2,710 in the after-hours session at the time of publication, according to Benzinga Pro.

Image by Dorothe from Pixabay