MakeMyTrip Shares Rise on Earnings Beat and Positive Travel Sector Sentiment
MakeMyTrip (NASDAQ: MMYT) shares surged nearly 10% as of noon ET following the release of its first-quarter fiscal year 2027 earnings report. The India-based travel company reported non-GAAP earnings per share of $0.53, exceeding Wall Street's estimate of $0.43, despite revenue falling short at $285.5 million versus an expected $292.2 million. Year-over-year sales grew by about 6%, and gross bookings rose nearly 20% to approximately $2.85 billion. The stock also benefited from broader optimism in the travel sector, driven by hopes of de-escalation in tensions with Iran after President Donald Trump indicated progress toward a deal that could reopen the Strait of Hormuz. This development has led investors to anticipate lower energy prices and reduced travel concerns, which are favorable for companies like MakeMyTrip.
Tickers: $MMYT