Booking Holdings shares rose 4.4 % in premarket trade on Thursday as travel returned from July-September, pushing third-quarter sales and earnings above analysts' projections.
Higher immunization rates and the reopening of businesses encouraged travel bookings, which were 77 % higher at $23.7 billion on a gross basis, discounting cancellations.
Revenue increased by 77 % to $4.68 billion in the third quarter, the company's greatest season. It was more than quadruple the amount of income reported by Booking three months prior.
The company stated in a statement that room nights, a measure of occupancy at a hotel, jumped 44 % from the previous year's quarter. The top line was driven by demand in Europe.
"We are encouraged by the signs of recovery we saw in many parts of the world in the third quarter...," said Chief Executive Officer Glenn Fogel in a statement.
According to a major Newswire, the corporation has also achieved greater gross bookings for the Christmas and New Year period in the United States than it did two years ago, before the pandemic.
However, other statements from the corporation suggested that it might not be time to get all gung-ho just yet.
According to a major newswire, the increase of COVID-19 instances in nations such as Germany, Russia, and Italy had impacted room nights at its European partners' facilities by the end of October.
Third-quarter adjusted profit per share more than tripled to $37.7, significantly above expectations.