RTTNews | Aug 6, 2020 05:01PM EDT

17:01 Thursday, August 6, 2020 (RTTNews.com) - Booking Holdings Inc. (BKNG) reported a second quarter non GAAP net loss per share of $10.81 compared to profit of $23.59, prior year. On average, 28 analysts polled by Thomson Reuters expected the company to report a loss per share of $11.70, for the quarter. Analysts' estimates typically exclude special items. The company noted that its results have been significantly and negatively impacted due to the COVID-19 pandemic.

Second quarter non-GAAP total revenues were $630 million, an 83% decrease as compared to the prior year (approximately an 83% decrease on a constant currency basis). Analysts expected revenue of $569.31 million for the quarter. Gross travel bookings, net of cancellations, were $2.3 billion, a decrease of 91% over a year ago (approximately a 91% decrease on a constant-currency basis).

"We faced a challenging second quarter and continue to face challenges due to the impact of the COVID-19 pandemic on travel demand. However, we have witnessed improvement in booking trends since April, which is encouraging" said Glenn Fogel, CEO of Booking Holdings.

Read the original article on RTTNews ( https://www.rttnews.com/3119369/booking-holdings-posts-adj-loss-in-q2-non-gaap-revenues-down-83.aspx)

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2020 RTTNews.com All Rights Reserved