5 Companies in Focus After Releasing Their Earnings Reports

2. Booking Holdings Inc. (NASDAQ:BKNG)

Number of Hedge Fund Holders: 92

Booking Holdings Inc. (NASDAQ:BKNG) delivered solid profit and sales for the first quarter, sending its shares up more than 10 percent in the pre-market trading session on Thursday, May 5, 2022.

The online travel agency reported adjusted earnings of $3.90 per share, swinging from a loss of $5.26 per share in the comparable period of 2021. Revenue increased to $2.7 billion, from $1.14 billion in the same period last year. Analysts were expecting Booking Holdings Inc. (NASDAQ:BKNG) to earn 85 cents per share on revenue of $2.53 billion.

Among other updates, Booking Holdings Inc. (NASDAQ:BKNG) reported that its gross travel bookings for the first quarter reached a record $27 billion, representing a surge of about two folds over the same period of 2021. The company primarily benefitted from the increasing demand for leisure travel around the world.

Discussing the results, CEO Glenn Fogel said in a statement:

“Despite an uncertain macroeconomic environment, we have seen continued strengthening of global travel trends so far in the second quarter of 2022, and we are preparing for a busy summer travel season ahead. I’m encouraged by how well our teams are executing to capture travel demand in this recovery environment and our progress in expanding our payments platform at Booking.com while we build towards our Connected Trip vision.”