Booking Holdings (NASDAQ: BKNG) surged in pre-market trading at the time of writing on Friday after the travel technology company’s adjusted earnings in Q2 soared by 97% year-over-year to $37.62 per share and above consensus estimates of $28.98 per share.
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The company’s revenues went up by 27% year-over-year to $5.5 billion and beat Street estimates by $330 million. Booking’s gross travel bookings, that is the total dollar value of bookings, inclusive of taxes and fees, net of cancellations, were $39.7 billion, a rise of 15% year-over-year. Room nights booked increased 9% year-over-year.
Analysts are cautiously optimistic about BKNG stock with a Moderate Buy consensus rating based on 15 Buys, eight Holds and two Sells.