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Booking Slumps in Another Sign of Moderating Growth in Travel

  • Second-quarter bookings beat estimates, sales nearly double
  • Airbnb results also suggested softening in lodging bookings
Travelers at a baggage claim area at Los Angeles International Airport.
Travelers at a baggage claim area at Los Angeles International Airport.Photographer: Bing Guan/Bloomberg
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Booking Holdings Inc. shares slumped after the company indicated that the pace of growth is moderating globally, putting a damper on the market’s expectations for a strong summer travel season.

The company reported bookings in the second quarter that topped analysts’ estimates and forecast record revenue in the current period. But, on a call with analysts, Chief Financial Officer David Goulden said that “compared with June, growth rates in July moderated in all regions with North America showing the smallest change.”