What caused the reported 1% decline in revenue, and how does it affect profitability metrics?

The reported 1% revenue decline is primarily due to a $900 million reduction related to an FTC matter. This impact, along with a $100 million accrued loss from the same matter, was excluded from the company's adjusted revenue and adjusted net income calculations. The adjusted figures show underlying operational strength with increased revenue and net income.

How did Booking Holdings perform in terms of profitability on an adjusted basis?

On an adjusted basis, Booking Holdings demonstrated strong profitability. Adjusted Net Income grew 8% year-over-year, and Adjusted EBITDA increased by 9%. Most notably, Adjusted EPS surged by 17% compared to the third quarter of 2025, indicating significant improvements in per-share profitability after accounting for specific items.

What is the company's outlook for the fourth quarter and full year 2026, considering current global events?

Booking Holdings anticipates a moderation in global travel demand for Q4 2026, citing factors like softer international travel trends, disruptions to travel to and from the Middle East, elevated airfares, and localized unrest in Europe. Their guidance reflects these near-term disruptions, with projected gross bookings growth of 2%-4% and adjusted revenue growth of 0%-2% for Q4 2026. Full-year guidance for gross bookings and adjusted revenue is in the high single digits (constant currency).

What actions is Booking Holdings taking regarding capital allocation?

In the third quarter of 2026, Booking Holdings repurchased $2.1 billion of its common stock and has $12.4 billion remaining under its authorization. Additionally, the Board of Directors declared a cash dividend of $0.42 per share, payable on December 31, 2026, demonstrating a continued commitment to returning capital to shareholders through both buybacks and dividends.

BKNG 8-K: Earnings & Results

01—Abstract

Summary

Summary of the 8-K filed November 3, 2026. Cited figures are marked; the original filing is the authoritative source.

Booking Holdings Inc. (BKNG) reported its third-quarter 2026 financial results on November 3, 2026.

The company demonstrated resilient travel demand, with room nights growing 7% year-over-year and gross bookings increasing by 10% (11% on a constant currency basis). Despite a reported 1% decline in revenue, adjusted revenue saw a healthy 9% increase (10% constant currency), indicating underlying operational strength. A significant factor impacting reported revenue and net income was a $900 million^a reduction related to an FTC matter, resulting in a $100 million accrued loss.

This event was excluded from adjusted metrics, which showed robust growth. Adjusted net income rose 8% and adjusted EBITDA increased by 9%, with adjusted earnings per share (EPS) surging 17% year-over-year. The company also repurchased $2.1 billion^b of its common stock in the quarter and declared a $0.42 per share dividend.

02—Key points

Key Highlights

Room nights increased by 7% year-over-year, signaling continued demand for travel services.
Gross bookings grew 10% (11% constant currency), demonstrating strong customer spending in the travel sector.
Adjusted revenue increased 9% (10% constant currency), offsetting a reported 1% revenue decline caused by a significant FTC matter.
Adjusted Net Income and Adjusted EBITDA grew 8% and 9% respectively, highlighting operational profitability excluding extraordinary items.
Adjusted EPS saw a substantial 17% year-over-year increase, indicating improved profitability on a per-share basis.
Booking Holdings repurchased $2.1 billion of its common stock, reflecting confidence and a commitment to returning capital to shareholders.
The company declared a quarterly cash dividend of $0.42 per share, continuing its policy of returning value to investors.

03—Questions

Frequently Asked Questions

What caused the reported 1% decline in revenue, and how does it affect profitability metrics?
The reported 1% revenue decline is primarily due to a $900 million reduction related to an FTC matter. This impact, along with a $100 million accrued loss from the same matter, was excluded from the company's adjusted revenue and adjusted net income calculations. The adjusted figures show underlying operational strength with increased revenue and net income.
How did Booking Holdings perform in terms of profitability on an adjusted basis?
On an adjusted basis, Booking Holdings demonstrated strong profitability. Adjusted Net Income grew 8% year-over-year, and Adjusted EBITDA increased by 9%. Most notably, Adjusted EPS surged by 17% compared to the third quarter of 2025, indicating significant improvements in per-share profitability after accounting for specific items.
What is the company's outlook for the fourth quarter and full year 2026, considering current global events?
Booking Holdings anticipates a moderation in global travel demand for Q4 2026, citing factors like softer international travel trends, disruptions to travel to and from the Middle East, elevated airfares, and localized unrest in Europe. Their guidance reflects these near-term disruptions, with projected gross bookings growth of 2%-4% and adjusted revenue growth of 0%-2% for Q4 2026. Full-year guidance for gross bookings and adjusted revenue is in the high single digits (constant currency).
What actions is Booking Holdings taking regarding capital allocation?
In the third quarter of 2026, Booking Holdings repurchased $2.1 billion of its common stock and has $12.4 billion remaining under its authorization. Additionally, the Board of Directors declared a cash dividend of $0.42 per share, payable on December 31, 2026, demonstrating a continued commitment to returning capital to shareholders through both buybacks and dividends.

04—Continue

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