Booking Holdings 3Q 2026: Revenue $8.89B, Net income $2.72B, EPS $3.61— 10-Q Summary

What happened

Booking Holdings reported third-quarter 2026 revenue of $8.89B, down 1.3% from a year earlier, and net income of $2.72B, down 1.1%, as revenue included a $900M charge related to an FTC matter.

Confirmed

Global impact / market context

The $900M FTC charge is a one-time cost tied to a regulator that lowered reported revenue. Investors should separate it from the core business, since gross bookings rose 9.6%, which means total travel spending booked through Booking grew even as reported revenue fell.

Analyst inference

Booking is shifting toward merchant bookings, which means it handles payments and records more of the transaction value, up to 75% of gross bookings from 72%. Room nights rose 6.7% and flight tickets 19.4%, while long-haul travel stayed pressured by Middle East effects.

Analyst inference

What to watch

1. The company raised its annual-run-rate transformation savings target to $650M, which means the yearly savings it expects from cost-cutting efforts, and it continues investing in AI, marketing and its Connected Trip strategy. Confirmed
2. Watch whether Booking's shift from agency to merchant bookings keeps raising its share, since merchant bookings reached 75% of gross bookings and change how much revenue the company records per transaction. Proposed
3. Watch long-haul travel demand, since Middle East effects are pressuring it; any easing could lift room nights and bookings, while continued weakness may limit growth even as the app and direct booking shares hold. Analyst inference

Evidence

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