Booking Holdings Inc.
Booking Holdings Reports 8% Increase in Room Nights and 9% Rise in Gross Travel Bookings for Q3 2024
Summary
Booking Holdings Inc. reported its Q3 2024 financial results, showing an 8% increase in room nights booked and a 9% rise in gross travel bookings to $43.4 billion. Total revenues were $8.0 billion, up 9% from the prior-year quarter. Net income remained at $2.5 billion, while Adjusted Net income increased by 9% to $2.8 billion. Adjusted EBITDA also rose by 12% to $3.7 billion. The company recorded a $365 million accrual related to the proposed settlement of certain Italian indirect tax matters and a $250 million reduction to income tax expense based on a recent U.S. Tax Court decision. The company also declared a cash dividend of $8.75 per share, payable on December 31, 2024.
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About Booking Holdings Inc.
Booking Holdings Inc. is a leading provider of online travel and hospitality services, connecting consumers and travel service providers worldwide. Primarily functioning as an intermediary platform, it facilitates the booking of travel accommodations, airline tickets, rental cars, and restaurant reservations. Through notable brands such as Booking.com, Priceline, and Agoda, the company operates across diverse markets, impacting the travel, leisure, and hospitality industries. Booking Holdings leverages advanced technologies and data-driven strategies to streamline the user experience, offering a vast inventory of travel options tailored to customers' needs. It plays a pivotal role in the global travel market by enabling seamless and efficient transactions, supporting the travel plans of millions of consumers while providing businesses with robust distribution channels. Founded in 1997 and headquartered in Norwalk, Connecticut, Booking Holdings Inc. remains a key player in transforming the way people travel and experience the world through digital innovations.
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