Booking Reports Better Than Expected Q3 Results

Booking Holdings (NASDAQ:BKNG) reported Q3 EPS of $72.32, outperforming the Street estimate of $67.78. Revenue increased by 21% from the previous year to $7.3 billion, slightly ahead of the $7.26 billion estimate.

Gross travel bookings climbed to $39.8 billion in Q3, marking a 24% year-over-year increase. Additionally, room nights booked witnessed a 15% rise from the previous year.

CEO Glenn Fogel expressed satisfaction with the record quarterly figures, attributing them to a robust summer travel season. He highlighted the resilience of leisure travel demand and the company's commitment to its strategic priorities for long-term growth. However, Fogel also acknowledged a "significant negative impact" on operations in Israel.

CFO David Goulden noted a slowdown starting the second week of October, with cancellations and a decrease in new bookings following the onset of the war in the Middle East.