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Here’s Why MakeMyTrip Stock Is Making Big Gains | The Motley Fool

What happened

MakeMyTrip (NASDAQ:MMYT) stock has posted big gains following the release of its second-quarter earnings results. The India-based travel booking company closed out last week’s trading up 18.2%, according to data from S&P Global Market Intelligence.

Easing travel restrictions helped power MakeMyTrip’s earnings performance in Q2 significantly above the market’s expectations. The company published its latest quarterly earnings on Oct. 26 and posted non-GAAP (adjusted) earnings per share of $0.09 on revenue $67.5 million, while the average analyst estimate guided for an adjusted per-share loss of $0.13.

Image source: Getty Images.

So what

With pandemic-related conditions generally easing, MakeMyTrip’s hotels and packages, airline ticketing, and bus ticketing segments posted strong rebounds in the second quarter. Total revenue in the period was up roughly 220% year over year, and total bookings through the company’s platforms in…

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