Booking (NASDAQ:BKNG) shares gained more than 7% yesterday following the release of stronger-than-expected Q2 results.

The company's revenue witnessed an impressive 27% year-over-year rise, reaching $5.46 billion, surpassing the Street estimate of $5.16 billion. Moreover, Booking reported adjusted earnings per share of $37.62, which far exceeded the expected $28.87 per share. Gross bookings also saw substantial growth, jumping 15% year-over-year to $39.69 billion, ahead of the Street estimate of $38.11 billion.

Glenn Fogel, Booking's CEO, attributed the robust performance to the continuous strong demand for leisure travel, which contributed to better-than-expected room nights and gross bookings in the quarter. Additionally, the company has observed these favorable trends persisting into July and is gearing up for what they anticipate to be a record-breaking summer travel season in the third quarter.