Press release
Booking Holdings Reports Financial Results for 2nd Quarter 2022
NORWALK, Conn., Aug. 3, 2022 /PRNewswire/ -- Booking Holdings Inc. (NASDAQ: BKNG) today reported its 2nd quarter 2022 financial results. Second quarter gross
About this update from Booking Holdings Inc. Common Stock
[{"type":"text","content":"NORWALK, Conn., Aug. 3, 2022 /PRNewswire/ -- Booking Holdings Inc. (NASDAQ: BKNG) today reported its 2nd quarter 2022 financial results. Second quarter gross travel bookings for Booking Holdings Inc. (the \"Company,\" \"Booking Holdings,\" \"we,\" \"our,\" or \"us\"), which refers to the total dollar value, generally inclusive of taxes and fees, of all travel services booked by its customers, net of cancellations, were $34.5 billion, an increase of 57% from the prioryear quarter. Room nights booked in the 2nd quarter of 2022 increased 56% from the prior-year quarter.\nBooking Holdings' total revenues for the 2nd quarter of 2022 were $4.3 billion, an increase of 99% from the prioryear quarter. Net income for the 2nd quarter of 2022 was $857 million, compared with a net loss of $167 million in the prior-year quarter. Net income per diluted common share in the 2nd quarter of 2022 was $21.07, compared with a net loss per diluted common share of $4.08 in the prior-year quarter.\nNon-GAAP net income in the 2nd quarter of 2022 was $776 million, compared with a non-GAAP net loss of $105 million in the prior-year quarter. Non-GAAP net income per diluted common share in the 2nd quarter of 2022 was $19.08, compared with a non-GAAP net loss per diluted common share of $2.55 in the prior-year quarter. NonGAAP net income (loss) for both periods includes adjustments to exclude net gains on equity securities with readily determinable fair values. Additionally, non-GAAP net income (loss) includes an adjustment to exclude an investment-related impairment charge in the 2nd quarter of 2022 and a loss on early extinguishment of debt in the 2nd quarter of 2021. Adjusted EBITDA for the 2nd quarter of 2022 was $1.1 billion, compared with adjusted EBITDA of $48 million in the prior-year quarter. The section below under the heading \"Non-GAAP Financial Measures\" provides definitions and information about the use of non-GAAP financial measures in this press release, and the attached financial and statistical supplement reconciles non-GAAP financial results with Booking Holdings' financial results under GAAP.\n\"We reached another milestone in our company's recovery from the impact of the pandemic with room nights for the second quarter surpassing 2019 levels for the first time. We continued to see very strong accommodation ADR growth, which helped drive ...