Booking Holdings Inc Reports Strong Q3 2024 Results

Investing.com — Booking Holdings Inc (NASDAQ: BKNG) reported its third quarter 2024 financial results, which surpassed analyst expectations due to robust performance in Europe. Consequently, the company’s stock rose approximately 4% after the announcement.

Financial Highlights

• Adjusted Earnings Per Share (EPS): $83.89, beating the analyst estimate of $77.16 by $6.73.
• Quarterly Revenue: $8 billion, exceeding the consensus estimate of $7.63 billion, representing a 9% year-over-year increase.
• Room Nights Booked: Increased by 8% year-over-year, surpassing prior expectations.
• Gross Travel Bookings: Rose 9% year-over-year to $43.4 billion.

CEO Statement

Glenn Fogel, Chief Executive Officer of Booking Holdings, stated, "We are pleased to report third quarter room night growth of 8%, which exceeded our prior expectations, driven primarily by stronger performance in Europe."

Additional Financial Metrics

• Adjusted EBITDA: Increased 12% year-over-year to $3.7 billion.
• Quarterly Cash Dividend: Declared at $8.75 per share, payable on December 31, 2024, to stockholders as of December 6, 2024.

Legal Matters

During the quarter, Booking Holdings recorded a $365 million accrual related to a proposed settlement of certain Italian indirect tax matters, which was excluded from adjusted net income and adjusted EBITDA calculations.