Booking Holdings Inc. Earnings Recaps
Q3 2025
Oct 29, 2025
Booking Holdings reported a strong third quarter performance, marked by robust demand across global markets with better-than-expected growth in gross bookings and revenue, alongside significant strategic advancements.
Key takeaways
- Gross bookings increased by 14% year-over-year, fueled by an 8% increase in room nights to 323 million.
- Revenue grew by 13%, with adjusted EBITDA reaching $4.2 billion, up 15% from the previous year.
- The Connected Trip initiative is gaining traction, with mid-20% year-over-year growth in multi-vertical transactions, highlighting the effectiveness of integrated travel planning.
- The Genius loyalty program has become a key driver for repeat bookings, with members accounting for over 30% of the active base and mid-50% of room nights.
- FX fluctuations benefited growth rates by approximately 400 to 500 basis points, contributing to the strong financial results.