Why Booking Holdings (BKNG) Shares Are Falling Afterhours Today - Booking Holdings (NASDAQ:BKNG)

Booking Holdings Inc BKNG second-quarter revenue nearly doubled year-over-year to $4.29 billion (+98.8% Y/Y), missing the consensus of $4.33 billion.
Agency revenue were $2.3 billion (+73.3% Y/Y), Merchant$1.75 billion (+164.6% Y/Y); and Advertising and other $244 million (+42.7% Y/Y).
Q2 gross travel bookings were $34.5 billion (+57% Y/Y). Room nights booked increased 56% Y/Y.
Adjusted EPS was $19.08, beating the consensus of $17.56.
Adjusted EBITDA was $1.1 billion, compared to $48 million in the prior-year quarter.
Booking reported an operating income of 1 billion, compared to a loss of $(56) million a year ago. BKNG's net cash provided by operating activities year-to-date totaled $4.38 billion, compared to $945 million a year ago. Free cash flow was $4.18 billion.
The company held cash and cash equivalents of $11.84 billion as of June 30, 2022.
"Looking forward, we expect record Q3 revenue and are very busy working with our customers and partners to help enable an extremely busy summer travel season," commented Glenn Fogel, Chief Executive Officer.
Price Action: BKNG shares are trading lower by 3.08% at $1,906 during the post-market session on Wednesday.