MakeMyTrip (MMYT) Q2 Earnings and Revenues Miss Estimates

MakeMyTrip (MMYT) reported Q3 2025 earnings of $0.37 per share, missing the Zacks Consensus Estimate of $0.45 by 17.78%, and revenues of $229.34 million, falling short of expectations by 13.22%. This marks the third time in the last four quarters the online travel company has missed both EPS and revenue estimates, contributing to a year-to-date stock decline of 19.9% against a rising S&P 500. Investors are now focused on management's commentary for future guidance, as the stock currently holds a Zacks Rank #3 (Hold), suggesting it may perform in line with the broader market.

Analysis

MakeMyTrip (MMYT) reported Q3 2025 earnings per share (EPS) of $0.37, significantly missing the Zacks Consensus Estimate of $0.45 by 17.78%. Revenues for the quarter also fell short, coming in at $229.34 million, which was 13.22% below consensus expectations, despite a year-over-year increase from $210.99 million. This marks the third time in the last four quarters that the online travel company has failed to meet both EPS and revenue estimates.

The consistent underperformance against analyst expectations has contributed to MMYT's stock decline of 19.9% year-to-date, sharply contrasting with the S&P 500's 16.9% gain over the same period. The market's cautious tone, reflected in a moderately negative sentiment score for MMYT (-0.75), suggests investor concern regarding the company's execution and growth trajectory. Management's commentary on the earnings call will be crucial for immediate price movement and future earnings expectations.

Despite the recent misses, MMYT currently holds a Zacks Rank #3 (Hold), indicating an expectation for the stock to perform in line with the broader market in the near term. The Internet - Delivery Services industry, to which MMYT belongs, is positioned strongly in the top 11% of Zacks industries, suggesting a favorable sector backdrop. Investors will closely monitor revisions to the next quarter's consensus EPS estimate of $0.59 on $337.09 million in revenues and the fiscal year's $2.16 EPS on $1.19 billion.

Key Decisions for Investors

• Investors should prioritize management's forward guidance from the earnings call to assess future growth prospects and address the recent underperformance.
• Evaluate the sustainability of MMYT's business model and competitive positioning within the strongly-ranked Internet - Delivery Services industry, given its consistent misses against consensus.
• Monitor upcoming earnings estimate revisions, as these have historically correlated with near-term stock movements, and consider the implications of the current Zacks Rank #3 (Hold).