智通财经7月30日电，摩根大通将在线旅游服务商Booking Holdings目标价从6000美元上调至6250美元。 ...

Core Insights - Booking Holdings is adapting to potential declines in Google-driven traffic by increasing investments in social media and promoting direct bookings, which now represent over 60% of its traffic [1][12] - U.S. consumer travel spending showed low single-digit growth in Q2, while Europe and Asia experienced stronger performance, with Asia being a key focus for long-term strategy [2][3][4] Financial Performance - In Q2, Booking reported a net income of $895 million ($27.43 per share), down 41% from $1.52 billion ($44.38 per share) a year earlier, while revenue increased by 16% to $6.8 billion [13] - Gross bookings reached $46.7 billion, reflecting a 13% increase, with room nights booked rising by 8% to 309 million [4][15] Regional Performance - The U.S. was the slowest-growing region for Booking, with growth in the low single digits, while Europe saw high single-digit growth and Asia experienced low double-digit growth [3][4] - Booking's two-brand strategy in Asia, utilizing Agoda.com and Booking.com, aims to enhance user experience and capitalize on the region's economic momentum [5] AI and Technology Initiatives - The company is heavily investing in generative and agentic AI across its brands, with initiatives like enhanced voice capabilities for Priceline's AI assistant and personalized products at Kayak [7][8] - Booking aims to develop an AI version of a human travel agent to provide tailored travel recommendations based on user data [9] Future Outlook - Booking anticipates revenue growth of 7% to 9% for Q3 and low double digits for the full year, with gross bookings expected to increase in the low double digits [14][15] - The company is focusing on increasing direct bookings and social media engagement, having spent 25% more on social media channels compared to the previous year [12]

格隆汇7月30日｜旅游网站Booking公布，第二季度营收同比增长16%至68亿美元，好于市场预期的65.7 亿美元；调整后每股盈利55.4美元，亦好于预期的50.22美元。美国以外地区的旅游活动蓬勃，抵消美国 市场疲态，有助业绩优于预期。期内总预订额增长13%，达到467亿美元，超出分析师预期，客房预订 间夜数增长7.7%。集团预期，第三季度营收同比升幅介乎7%至9%，客房预订间夜数同比升幅介乎3.5% 至5.5%。 ...

本文源自：金融界AI电报 北京时间周三早间，在线旅游公司Booking Holdings(BKNG.US)公布第二季度财报。数据显示，该公司 Q2营收同比增长16%，至68亿美元，好于市场预期的65.5亿美元;调整后每股收益同比增长32% ，达到 55.40美元，好于市场预期的50.38美元。 ...

Core Viewpoint - Booking Holdings reported strong Q2 results with revenue growth of 16% year-over-year, reaching $6.8 billion, exceeding market expectations of $6.55 billion [1] - The company provided a cautious outlook for Q3, citing economic and geopolitical uncertainties that may impact travel demand [1] Financial Performance - Q2 adjusted earnings per share increased by 32% to $55.40, surpassing the market forecast of $50.38 [1] - Total bookings for Q2 grew by 13% to $46.7 billion, exceeding analyst expectations, with a 7.7% increase in nights booked [1] - Air ticket sales surged by 44% during the same period [1] Future Outlook - Booking adjusted its full-year total bookings growth rate to "high single digits," an improvement from the "mid-high single digits" range provided in April [2] - The CEO highlighted strong growth in Europe and Asia, particularly in Asia where growth reached low double digits [2] - The CFO noted that lower average room rates in the U.S. and shorter stays indicate consumer caution in spending amid the current economic environment [2] Market Context - The report reflects mixed guidance from the U.S. travel industry, with Delta Airlines restoring performance guidance while American Airlines provided a more pessimistic outlook [1] - Despite the cautious outlook, travel demand trends have remained stable, aiding the company's improved full-year guidance [2] - Following the earnings report, Booking's stock fell by 1.87% in after-hours trading, although it has risen 13% year-to-date, outperforming the S&P 500's 8.3% increase [2]

Market Overview - The S&P 500 and Nasdaq reached intra-day record highs but closed in the red, with the Dow down 204 points (-0.46%), S&P 500 down 18 points (-0.30%), Nasdaq down 80 points (-0.38%), and Russell 2000 down 13 points (-0.61%) [1] - Trade deals are progressing but lack the strength to drive the market higher, with Q2 earnings showing some weaknesses outside of Big Tech [2] Federal Reserve Policy - A new announcement on Fed policy is expected, with the current interest rate of 4.25-4.50% likely to remain unchanged for the fifth consecutive FOMC meeting [3] - Some analysts anticipate dissent among Fed members regarding the need for rate cuts despite current unemployment at +4.1% and inflation at +2.7% [3] Earnings Reports - **Starbucks (SBUX)**: Reported Q3 earnings of $0.50 per share, missing the consensus of $0.65, attributed to a one-time charge of $0.11. Revenues were $9.50 billion, exceeding expectations of $9.30 billion. Same-store sales fell -2% compared to a -1.3% consensus [4][5] - **Visa (V)**: Reported earnings of $2.98 per share, beating expectations of $2.86, with revenues of $10.2 billion surpassing the $9.87 billion forecast. Despite strong performance, shares fell -3% in after-hours trading [6] - **Booking Holdings (BKNG)**: Reported Q2 earnings of $55.40 per share, exceeding the $50.59 estimate, with revenues of $6.8 billion above the $6.56 billion consensus. Gross bookings reached $46.7 billion [7] - **Mondelez (MDLZ)**: Reported earnings of $0.73 per share, beating estimates by $0.05, with revenues of $8.98 billion exceeding the $8.88 billion expectation. The company faced challenges from rising cocoa prices and tariffs [8] Upcoming Market Events - The earnings season is expected to peak with reports from major companies like Microsoft and Meta Platforms, along with others such as Ford and Qualcomm [9] - Private-sector payroll data from ADP is anticipated, with a consensus of +64K jobs for July, following a previous decline of -33K [10] - Q2 GDP is projected to rebound to +2.3% from Q1's -0.5%, influenced by tariff policies and economic outlook improvements [10]

Booking Holdings (BKNG) came out with quarterly earnings of $55.4 per share, beating the Zacks Consensus Estimate of $50.91 per share. This compares to earnings of $41.9 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of +8.82%. A quarter ago, it was expected that this online booking service would post earnings of $17.25 per share when it actually produced earnings of $24.81, delivering a surprise of +43.83%.Over the last four qu ...

Financial Data and Key Metrics Changes - Booking Holdings reported a strong quarter with adjusted EBITDA increasing by 28% year over year, driven by revenue outperformance and disciplined expense management [3][6] - Room nights reached 309 million, an 8% year over year increase, with gross bookings up 13% and revenue up 16%, both exceeding prior expectations [5][29] - Adjusted earnings per share grew 32% year over year, reflecting a strong financial performance [6][32] Business Line Data and Key Metrics Changes - Alternative accommodations saw room night growth of 10%, outpacing the core hotel business, with listings reaching 8.4 million, an 8% increase year over year [8][25] - The Genius loyalty program has expanded, with over 30% of active travelers now in higher tiers, contributing to higher direct booking rates [9][27] - Non-accommodation verticals showed strong growth, with flight ticket bookings up 44% and attractions ticket growth more than doubling year over year [12][27] Market Data and Key Metrics Changes - Asia experienced low double-digit room night growth, driven by strong performance from both Pagoda and Booking.com, while the U.S. remained the slowest growing region [10][22] - The U.S. market showed slight improvement in growth, but lower average daily rates (ADRs) and shorter booking windows were noted, indicating cautious consumer spending [23][61] - The Rest of World region was impacted by geopolitical events, which affected global growth by approximately 1% in June [22] Company Strategy and Development Direction - The company is focused on expanding alternative accommodations, enhancing the Genius loyalty program, and developing AI capabilities to improve the travel experience [7][14] - The connected trip vision aims to provide a more personalized travel experience by integrating various travel services, which is expected to drive loyalty and repeat bookings [12][90] - The company is investing in technology and partnerships to leverage AI for better customer service and operational efficiency [16][17] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term outlook for the travel industry despite geopolitical and macroeconomic uncertainties [18][39] - The company anticipates steady travel demand trends in the third quarter, although comparisons with the previous year will be more challenging [35][74] - Full-year guidance has been increased, reflecting strong performance and improved visibility for the remainder of the year [39][40] Other Important Information - The company generated approximately $3.1 billion in free cash flow during the quarter, with a cash and investments balance of $18.2 billion at the end of the quarter [34] - The transformation program is expected to yield approximately $350 million in annual run rate savings, with $150 million forecasted for the current year [33] Q&A Session All Questions and Answers Question: Can you provide details on the performance of different markets in Asia? - Management noted that while they do not break out individual countries, they are pleased with overall performance in Asia, emphasizing the importance of localized strategies and strong brand presence [44][46] Question: What are the growth initiatives for the U.S. market? - The company is focusing on small initiatives across product, supply, and marketing to gradually gain market share in the U.S., with early signs of strengthening growth [59][62] Question: What are the technological hurdles for scalable GenAI assistance? - Management acknowledged that while progress is being made, the development of scalable GenAI assistance will take time and is an ongoing process [66][70] Question: What factors are influencing the outlook for the third quarter? - The company highlighted steady results so far but noted tougher comparisons with the previous year, particularly in August and September [74] Question: How is the growth in alternative accommodations compared to industry trends? - Management indicated that growth in alternative accommodations continues to outpace traditional accommodations, reflecting strong demand and potential for future growth [77][79]

Financial Data and Key Metrics Changes - Booking Holdings reported a strong quarter with adjusted EBITDA increasing by 28% year over year, driven by revenue outperformance and disciplined expense management [3][32] - Room nights reached 309 million, an 8% year over year increase, with gross bookings up 13% and revenue up 16%, both exceeding prior expectations [5][29] - Adjusted earnings per share grew 32% year over year, benefiting from a 5% lower average share count [32] Business Line Data and Key Metrics Changes - Alternative accommodations room nights grew by 10%, outpacing the core hotel business, with total listings reaching 8.4 million, an 8% increase year over year [8][25] - The Genius loyalty program saw over 30% of active travelers in higher tiers, contributing to a mid-50% share of total room nights booked [9][27] - Non-accommodation verticals showed strong growth, with flight tickets booked increasing by 44% and attractions ticket growth more than doubling year over year [12][27] Market Data and Key Metrics Changes - Asia experienced low double-digit room night growth, while the U.S. remained the slowest growing region, though growth improved slightly from the first quarter [10][22] - Europe saw high single-digit growth, and the Rest of World region also experienced high single-digit growth [22] - The U.S. market showed lower average daily rates (ADRs) and shorter lengths of stay, indicating cautious consumer spending [23] Company Strategy and Development Direction - The company is focused on expanding alternative accommodations, enhancing the Genius loyalty program, and developing AI capabilities to improve the travel experience [7][12] - The connected trip vision aims to provide a more personalized travel experience by integrating various travel services [11][82] - The company is investing in technology and partnerships to leverage AI for better service and operational efficiency [16][17] Management's Comments on Operating Environment and Future Outlook - Management remains optimistic about long-term growth in the travel industry despite geopolitical and macroeconomic uncertainties [18][39] - The company expects third quarter room night growth to moderate, with guidance reflecting a cautious outlook due to tougher year-over-year comparisons [35][72] - Full-year guidance has been increased, with expectations for low double-digit growth in gross bookings and revenue [39] Other Important Information - The company generated approximately $3.1 billion in free cash flow during the quarter, with an ending cash and investments balance of $18.2 billion [34] - The transformation program is expected to yield approximately $350 million in annual run rate savings [33] Q&A Session Questions and Answers Question: Can you provide details on the performance of different markets in Asia? - Management expressed satisfaction with overall performance in Asia, highlighting that while they do not compete strongly in China, inbound travel to China remains beneficial [45][46] Question: What is the potential impact of large language models (LLMs) on the business? - Management sees LLMs as an exciting opportunity for improved service and efficiency, although it is still early to quantify their impact [48][50] Question: What initiatives are being taken to boost growth in the U.S. market? - The company is focusing on small initiatives across product, supply, and marketing to gradually gain market share in the U.S. [58][60] Question: What are the key investments needed for scaling the Connected Trip? - Management emphasized the importance of expanding inventory across all travel verticals and leveraging data for personalized customer experiences [82][90]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 1-36691 Booking Holdings Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation o ...