1Moยท

$BKNG (-1,19ย %) | Booking Holdings Q3'24 Earnings Highlights:


๐Ÿ”น EPS: $83.89 (Est. $77.16) ๐ŸŸข; UP +7% YoY

๐Ÿ”น Revenue: $8.0B (Est. $7.63B) ๐ŸŸข; UP +9% YoY


Operational Metrics:

๐Ÿ”น Room Nights Sold: 299M; UP +8% YoY (Est. 290.11M) ๐ŸŸข

๐Ÿ”น Rental Car Days: 23M; UP +16% YoY (Est. 21.84M) ๐ŸŸข

๐Ÿ”น Airline Tickets Sold: 13M; UP +39% YoY (Est. 11.42M) ๐ŸŸข


Revenue Breakdown:

๐Ÿ”น Merchant: $5.0B; UP +26% YoY

๐Ÿ”น Agency: $2.8B; DOWN -12% YoY

๐Ÿ”น Advertising and Other: $269M; UP +3% YoY


Bookings Performance:

๐Ÿ”น Gross Bookings: $43.4B (Est. $41.37B) ๐ŸŸข; UP +9% YoY

ย ย ย ๐Ÿ”ธ Merchant Bookings: $28.4B; UP +28% YoY

ย ย ย ๐Ÿ”ธ Agency Bookings: $15.1B; DOWN -14% YoY


Profitability Metrics:

๐Ÿ”น Adjusted EBITDA: $3.7B (Est. Not Provided); UP +12% YoY

๐Ÿ”น Adjusted EBITDA Margin: 45.8% (vs. 44.7% in Q3 2023)

๐Ÿ”น Net Income: $2.5B (Flat YoY)

๐Ÿ”น Free Cash Flow (9 months): $7.2B (vs. $5.7B YoY)


Key Financial Events:

๐Ÿ”ธ $365M accrual for Italian indirect tax settlement

๐Ÿ”ธ $250M reduction in income tax expense from U.S. Tax Court decision

๐Ÿ”ธ Marketing Expense: $2.15B; UP +6.4% YoY


Dividend:

๐Ÿ”น Quarterly Dividend: $8.75 per share, payable December 31, 2024


CEO Glenn Fogelโ€™s Commentary:

๐Ÿ”ธ "We are pleased to report third-quarter room night growth of 8%, which exceeded our prior expectations, driven primarily by stronger performance in Europe. We continue to make progress against our strategic initiatives while driving cost efficiency in our business, which I believe will position our company well for the long term."

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