Booking Holdings stock beats Q3 targets as Q4 growth outlook slows

Published on 11/04/2026 at 17:03 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Booking Holdings stock follows a stronger third quarter with a slower fourth-quarter outlook. Management kept its full-year growth view.

Booking's Q3 beat meets slower outlook

Room nights grew 7 percent and gross bookings increased 10 percent in the third quarter.
Adjusted revenue rose 9 percent, while adjusted EBITDA increased 9 percent to 4.6 billion US dollars.
Management expects fourth-quarter room-night growth of 1 to 3 percent and adjusted EBITDA roughly flat year over year.

Booking Holdings, US09857L1089, Illustration mit AI erstellt.

Booking Holdings delivered a stronger third quarter than management had expected, but its outlook for the final quarter points to slower travel growth. In the Booking Holdings earnings call transcript published on Tuesday, November 3, executives said room nights, gross bookings, adjusted revenue and adjusted EBITDA all exceeded the high end of third-quarter guidance.

Third-quarter operating momentum

Room nights increased 7 percent year over year, up from 5 percent in the second quarter. Gross bookings rose 10 percent, or 11 percent on a constant-currency basis, while adjusted revenue advanced 9 percent, or 10 percent in constant currency.

Adjusted EBITDA increased 9 percent to 4.6 billion US dollars, with an adjusted EBITDA margin of 47.0 percent including stock-based compensation as an expense. Adjusted earnings per share rose 17 percent to 4.66 US dollars. Management said travel demand remained resilient during the quarter but moderated toward its end.

Fourth-quarter growth slows

Booking expects fourth-quarter room nights to increase 1 to 3 percent and gross bookings to rise 2 to 4 percent. Adjusted revenue is expected to grow 0 to 2 percent, while adjusted EBITDA should be roughly flat year over year. The outlook reflects a tougher comparison and uncertainty around recent travel-demand disruptions.

Management maintained its full-year view for high-single-digit growth in gross bookings, adjusted revenue and adjusted EBITDA, with adjusted earnings per share growth in the low- to mid-teens. Planned investment in artificial intelligence, flights, attractions, dining and technology infrastructure is expected to weigh on fourth-quarter profitability.

Share price after the earnings update

The real-time quote of Booking Holdings stock traded at 154.05 euros on Lang & Schwarz at 17:00:32 CET on Wednesday, November 4, 2026. That was 10.39 percent above the 139.55-euro quote in the latest report published at 13:38 CET the same day.