Financial PerformanceLower-than-expected guidance for 3Q and FY24 drove shares lower following the release.
Growth Projections3Q bookings, revenue and EBITDA guidance that came below the Street, slowing travel demand in Europe in the 2Q, building booking headwinds via airline pricing pressures and CC ADRs that are set to be flat to down for the year, and implied 2H growth expectations across most key metrics that have come down versus prior Street expectations - are all likely to weigh on BKNG sentiment.
Market TrendsRecession and macro uncertainty may impact discretionary spending on travel and could negatively impact travel service providers through fewer bookings and rates.