Michigan strips two clerks in small town of election duties over hand count plan
What you need to know about the 2024 US presidential election
BOJ to keep rates steady as politics muddles outlook
IMF board approves Kenya's reviews, unlocking access to $606 million
Siemens to buy engineering software firm Altair for $10.6 billion
Accuser of Sean 'Diddy' Combs cannot remain anonymous, judge rules
‘Emily in Paris’ star Lucas Bravo mulling exit from show because he’s ‘frustrated’ with his character’s direction
Second gambler admits trying to cash in on scheme involving ex-NBA player Jontay Porter
(Reuter) - Online travel agency Booking Holdings forecast lower room nights growth in the third quarter after beating analysts' estimates for second-quarter revenue and profit, sending its shares down 8% after the bell.
The booking window shrank in the second quarter and is expected to shrink further in the third quarter, the parent of booking.com and priceline brands said on a post-earnings call.
Booking window, an important metric in the travel industry, refers to the number of days between the reservation date and actual arrival. A higher booking window indicates strong occupancy and revenue guaranteed in advance.
The company forecast third-quarter room night growth to be between 3% to 5%, compared to 7.1% growth in the second quarter and 14.9% growth in the year-ago quarter.
Booking reported a quarterly adjusted profit of $41.90 per share, compared with analysts' estimates of $38.37.
Total revenue rose 7% to $5.86 billion for the quarter ended June 30. Analysts had expected revenue of $5.77 billion, as per LSEG data.
(Reporting by Aishwarya Jain; Editing by Sriraj Kalluvila)
