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Booking Holdings Q2 EPS beats estimates

Online travel services giant Booking Holdings Inc., formerly known as Priceline Group, on Aug. 9 posted second-quarter adjusted EPS and net income that topped analysts estimates.

The Connecticut-based company reported a non-GAAP EPS of $20.67, beating the S&P Global Market Intelligence consensus estimate of $17.36 per share.

For the three months ended June 30, adjusted net income came in at $1 billion, up 32% from $757.9 million in the prior year and beating the S&P Global Market Intelligence consensus estimate of $845.57 million.

Total revenue during the second quarter jumped 20% to $3.5 billion from $3 billion in the prior year. The company's total dollar value of gross bookings, including taxes and fees, increased year over year to $23.9 billion.

In its third-quarter outlook, Booking's forecasts non-GAAP net income of between $1.76 billion and $1.81 billion, as well as non-GAAP EPS of $36.70 and $37.70 per diluted share. Revenue growth is expected in the range of 6% to 9%, while gross bookings are predicted to grow between 3% and 6%.