What To Expect From Booking’s (BKNG) Q2 Earnings

Jabin Bastian /
2023/08/02 4:03 am EDT

Online travel agency Booking Holdings (NASDAQ:BKNG) will be reporting earnings tomorrow after market hours. Here's what investors should know.

Last quarter Booking reported revenues of $3.78 billion, up 40.2% year on year, in line with analyst expectations. It was a very strong quarter for the company, with impressive growth in its user base and exceptional revenue growth. The company reported 274 million nights booked, up 38.4% year on year.

Is Booking buy or sell heading into the earnings? Read our full analysis here, it's free.

This quarter analysts are expecting Booking's revenue to grow 20.5% year on year to $5.17 billion, slowing down from the 98.8% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $29.16 per share.

Booking Total Revenue

Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company only missed Wall St's revenue estimates once over the last two years, and has on average exceeded top line expectations by 5.02%.

Looking at Booking's peers in the consumer internet segment, some of them have already reported Q2 earnings results, giving us a hint of what we can expect. Coursera delivered top-line growth of 23.2% year on year, beating analyst estimates by 5.13% and Shutterstock reported revenues up 0.95% year on year, missing analyst estimates by 2.6%. Coursera traded up 7.85% on the results, Shutterstock was flat on the results. Read our full analysis of Coursera's results here and Shutterstock's results here.

There has been positive sentiment among investors in the consumer internet segment, with the stocks up on average 9.82% over the last month. Booking is up 8.83% during the same time, and is heading into the earnings with analyst price target of $3,016.2, compared to share price of $2,910.

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The author has no position in any of the stocks mentioned.