:Booking Holdings on Thursday raised its forecast for third-quarter gross bookings as pent-up demand for travel outweighed rising costs and concerns around an uncertain economy, sending its shares up 10.25 per cent in extended trading.
The company also estimates earnings before interest, taxes, depreciation, and amortization will be 20 per cent higher than last year. But domestic travel demand in the U.S. appears to be softening and companies with more exposure there, such as Airbnb, are losing business as more customers opt for vacations abroad.
Room nights booked for the quarter ended June rose 9 per cent from last year, while gross travel bookings jumped 15 per cent.
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