Booking Holdings Inc. Q3 2025 Earnings Recap

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.