Booking Holdings Reports Strong Q3 Earnings

Booking Holdings Inc. reported a strong financial performance for Q3 2024, with revenue of $8.0 billion, a 9% increase year-over-year, surpassing analysts' estimates of $7.63 billion. The company recorded gross travel bookings of $43.4 billion, reflecting a 9% rise, and an 8% increase in room nights booked, totaling 299 million nights. Adjusted earnings per share reached $83.89, exceeding expectations by 8.4%. CEO Glenn Fogel attributed the growth primarily to robust international travel demand, especially in Europe, despite weaker domestic travel in the U.S. and China. The company declared a cash dividend of $8.75 per share, affirming its financial stability. However, it faced challenges, including a $365 million accrual for a proposed settlement related to Italian tax matters, which was excluded from adjusted figures.