BKNG · Earnings call · 2026Q3T · Full report
Operating Income and Margins
Booking Holdings Inc. · 2026-11-03 · Importance 53 · Surprise 32 · No source text
Third-quarter adjusted EBITDA was approximately $4.6 billion, up 9% year over year, and adjusted EBITDA margin expanded slightly to 47.0%, including stock-based compensation as an expense. Adjusted EPS increased 17% to $4.66 per share, helped by a 7.5% reduction in average shares outstanding. Management expects full-year EBITDA margins to remain stable, while Q4 adjusted EBITDA is expected to be approximately flat year over year, or up about 2% on a constant-currency basis.
Key facts
- Adjusted EBITDA was approximately $4.6 billion, up 9% year over year, and adjusted EBITDA margin expanded slightly to 47.0%, including stock-based compensation as an expense.
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| operating_income | positive | realized | +4.3% | Adjusted EBITDA was approximately $4.6 billion, up 9% year over year, and adjusted EBITDA margin expanded slightly to 47.0%, including… |
| margin | positive | realized | — | Adjusted EBITDA was approximately $4.6 billion, up 9% year over year, and adjusted EBITDA margin expanded slightly to 47.0%, including… |