Booking Holdings ( (BKNG) ) has realeased its Q3 earnings. Here is a breakdown of the information Booking Holdings presented to its investors.
Booking Holdings Inc., the world’s leading provider of online travel and related services, operates across more than 220 countries and territories through brands like Booking.com and Priceline, aiming to facilitate global travel experiences.
In its third quarter 2024 financial report, Booking Holdings announced substantial growth with room nights booked increasing by 8% and gross travel bookings rising 9% year-over-year, reaching $43.4 billion. The company’s total revenue also saw a 9% increase, amounting to $8.0 billion.
Key financial highlights include a net income of $2.5 billion, consistent with the previous year, and an adjusted net income of $2.8 billion, marking a 9% increase. Adjusted earnings per share showed a notable 16% growth to $83.89, while adjusted EBITDA rose by 12% to $3.7 billion. The company also declared a cash dividend of $8.75 per share, reflecting confidence in its financial health.
The company navigated certain financial challenges, including a $365 million accrual for a proposed settlement of Italian tax matters, which was excluded from its adjusted figures. CEO Glenn Fogel emphasized the strong performance in Europe and ongoing strategic progress aimed at long-term growth and cost efficiency.
Looking forward, Booking Holdings remains focused on expanding its strategic initiatives and maintaining cost efficiency to bolster long-term growth, underscoring its commitment to enhancing shareholder value while adapting to market conditions.
