Booking.com Q2 revenue at $630M, down 84% YoY

Thursday, 06. August 2020 22:02

Booking Holdings Inc. announced on Thursday its revenue in the second quarter of 2020 plunged by 84% in comparison to the same period last year to land at $630 million. The company's net income landed at $122 million, worsening by 88% year-on-year, while its diluted earnings per share came in at $2.97, dropping by 87% to the $22.4 reported in the second trimester of 2019.

"We faced a challenging second quarter and continue to face challenges due to the impact of the COVID-19 pandemic on travel demand. However, we have witnessed improvement in booking trends since April, which is encouraging. Looking forward, we continue to execute on our operating plans to navigate the company through these challenging times and enable us to emerge from this crisis in a position of strength," Booking's Chief Executive Officer Glenn Fogel said.

The company's shares increased by 3.20% in the after-hours trading after the release of the report.

Related Links: Booking Holdings Inc.
Author:
Breaking the News / JR