MakeMyTrip Stock Surges After Earnings Beat and Iran War Deal Hopes

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โดย The Motley Fool·Read original
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MakeMyTrip stock soared as much as 14.1% on Tuesday after the India-based travel company reported adjusted earnings that beat Wall Street estimates and travel stocks rallied on news of a potential deal to end the Iran war. The company posted adjusted earnings of $0.53 per share on sales of $285.5 million for its fiscal first quarter, surpassing the consensus estimate of $0.43 per share despite revenue falling short of the expected $292.2 million. Gross bookings rose nearly 20% year over year to approximately $2.85 billion. The broader travel sector also gained after President Donald Trump said the basics of a deal to reopen the Strait of Hormuz and end the conflict had been reached, with negotiations set to resume today. An end to the war could reduce energy prices and ease travel concerns, providing an additional catalyst for MakeMyTrip and its peers.

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