Booking Holdings Inc (NASDAQ:BKNG) stock fell 2.67% (As on August 4, 11:40:06 AM UTC-4, Source: Google Finance) after the company posted an increase in quarterly revenue, as a surge in bookings amid a strong summer travel demand delivered a faster-than-expected recovery. The Norwalk, Connecticut-based company recorded a net profit of $857 million in the reported quarter, compared with a loss of $167 million, a year earlier. Gross travel bookings rose 57% from a year earlier to $34.5 billion in the quarter. In the second quarter, the company saw the largest sequential net increase in alternative accommodation properties since 2019 and it now have 6.6 million alternative accommodation listings on Booking.com. Room nights in the second quarter were up 16%, a 25 point improvement from Q1 and our first full quarter of room night growth versus 2019.
Moreover, for Q2 on a regional basis, room nights in Europe were up over 20%. The U.S. was up about 30%. Rest of world was up in the mid-teens, and Asia was down high single-digits with all regions improving from Q1 levels. The improvement from Q1 was helped by all regions with Europe and Asia contributing the most. Mobile bookings, particularly through the apps, represents about 60% of the total room nights in the second quarter. The apps were over two-thirds of our mobile bookings and over 40% of total room nights, which was in line with the first quarter. Q2 international room nights were up mid single-digits compared to Q2 2019 levels, which was the first quarter of growth versus 2019 for international.
BKNG in the second quarter of FY 22 has reported the adjusted earnings per share of $19.08, beating the analysts’ estimates for the adjusted earnings per share by $1.51. The company had reported the adjusted revenue growth of 99 percent to $4.29 billion in the second quarter of FY 22, beating the analysts’ estimates for revenue of $4.32 billion, according to Refinitiv. Q2 ending cash investment balance of $14.2 billion was up versus our Q1 ending balance of $12.8 billion, primarily driven by $2.6 billion of free cash flow, partially offset by about $1.3 billion in share repurchases in Q2.
Looking towards the rest of the year, Booking.com expects solid gross bookings for the fourth quarter, which are about 15% higher than at this same point in 2019 on a euro basis.