BKNG · Earnings call · 2026Q3T · Full report
Liquidity and Debt Position
Booking Holdings Inc. · 2026-11-03 · Importance 42 · Surprise 14 · From source text
Cash and investments totaled $16.2 billion at the end of Q3, down from $17.7 billion at the end of Q2. The company generated $1.1 billion of free cash flow during the quarter, affected by a $3.6 billion seasonal unwind of deferred merchant bookings. Management said it would maintain a strong balance sheet while investing in growth and returning capital to shareholders.
Key facts
- Third-quarter ending cash and investments were $16.2 billion, compared with $17.7 billion at the end of the second quarter.
- Booking Holdings generated $1.1 billion of free cash flow in the third quarter, impacted by a $3.6 billion seasonal unwind of deferred merchant bookings.
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| cash | negative | realized | -12.7% | Booking Holdings generated $1.1 billion of free cash flow in the third quarter, impacted by a $3.6 billion seasonal unwind of deferred… |
| cash | negative | realized | -5.3% | Third-quarter ending cash and investments were $16.2 billion, compared with $17.7 billion at the end of the second quarter. |
| cash | positive | realized | +3.9% | Booking Holdings generated $1.1 billion of free cash flow in the third quarter, impacted by a $3.6 billion seasonal unwind of deferred… |