🔹 Revenue: $4.10B (Est. $4.08B) 🟢; UP +10% YoY
🔹 EPS: $2.21 (Est. $2.36) 🔴; UP +4% YoY
🔹 Adj EBITDA Margin: 50% (Est. 49.9%) 🟢; -200 bps YoY
🔹 Gross Booking Value: $22.9B (Est. $22.13B) 🟢; UP +14% YoY
🔹 Nights & Seats Booked: 133.6M (Est. 132.25M) 🟢; UP +9% YoY
Guidance:
🔹 Q4’25 Revenue: $2.66B–$2.72B (Est. $2.67B) 🟢
🔹 FY25 Adjusted EBITDA Margin: ~35% (Prior: ≥34.5%)
Segment:
🔹 Latin America: Nights & Seats Booked grew low-20s% YoY; Brazil installment plan drove >50% of booking value for eligible stays in Q3.
🔹 Asia Pacific: Mid-teens Nights growth YoY; Japan domestic nights +27% YoY; first-time bookers +20% in Japan and nearly +50% in India.
🔹 North America: Mid-single-digit Nights growth YoY; “Reserve Now, Pay Later” helped accelerate bookings.
Other Metrics:
🔹 Net Income: $1.4B; Net Income Margin: 34%
🔹 Free Cash Flow: $1.3B; FCF Margin: 33%
🔹 Implied Take Rate: 17.9%; DOWN -70 bps YoY
🔹 Share Repurchases: $857M in Q3; $6.6B total authorization available as of Sept 30, 2025