Q2 2024 Booking Holdings Inc Earnings Call Transcript
Key Points
- Booking Holdings Inc (BKNG) reported second-quarter results that exceeded the high end of their expectations for revenue and adjusted EBITDA.
- The company saw a 7% year-over-year increase in both revenue and adjusted EBITDA, reaching $5.9 billion and $1.9 billion, respectively.
- Adjusted earnings per share grew 11% year-over-year, aided by a strong capital return program that reduced the average share count by 7%.
- The company continues to see high growth levels in Asia and slight improvement in growth in the US.
- Booking Holdings Inc (BKNG) is making significant progress in several strategic initiatives, including advancing their connected trip vision, expanding their merchant offering, and developing AI capabilities.
- The booking window expanded less in the second quarter relative to the first quarter, negatively impacting room night growth compared to Q1.
- There was a mild moderation in market growth in Europe, which could impact future performance.
- The company expects room night growth to decelerate in the third quarter due to a less expanded booking window and more moderate market growth.
- Gross bookings growth came in at the midpoint of their range due to lower constant currency accommodation ADRs and lower flight ticket prices.
- Marketing expenses increased 8% year-over-year, with higher spending on social media channels and brand marketing.
Please standby for streaming text.
(audio in progress) -- Bookings Holdings Second Quarter 2024 conference call. So Holdings would like to remind everyone that this call may contain forward looking statements which are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 19 and not guaranteed of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to you predict.
Therefore, actual results may differ materially from those expressed, implied or forecasted in any such Expressions of future goals or expectations and similar expressions reflecting something other than historical fact are indeed to identify forward looking statements for a list of factors that could cause Booking Holdings' actual results to differ materially from those described in the forward looking statements, please refer to the Safe Harbor statements at the end of Booking Holdings' earnings earnings press release, as well as some Holdings' most recent filings with the Securities and Exchange Change
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