Booking Holdings
is continuing its recovery from the pandemic, with room nights booked surpassing 2019 levels and revenues nearly doubling year-on-year in the second quarter of 2022.
For Q2 2022, revenues were $4.3 billion, a 99% increase from the same period last year. Gross travel bookings were $34.5 billion, a 57% increase from Q2 2021.
Net income for Q2 2022 was $857 million compared with a net loss of $167 million year-on-year, while adjusted EBITDA was $1.1 billion compared with an adjusted EBITDA of $48 million.
Operating expenses totaled $3.3 billion, with marketing expenses accounting for $1.7 billion compared to $988 million year-on-year.
"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 a 38% increase in gross bookings, or a 48% increase on a constant currency basis, in the second quarter versus the second quarter of 2019," says Booking Holdings CEO Glenn Fogel.
“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."