Booking Holdings warns of much slower fourth-quarter growth after a third-quarter beat

Gross bookings are guided to grow 2% to 4% after double-digit growth in the third quarter, with softer international travel and the Middle East conflict blamed.

Booking Holdings beat third-quarter forecasts, but it expects growth to slow sharply in the fourth. Revenue was $9.79B against $9.74B expected, and earnings per share were $4.66, $0.07 better than expected.

Chief executive Glenn Fogel said resilient travel demand and disciplined execution drove double-digit gross bookings growth and margin expansion in the quarter. The guide for the fourth quarter is far lower: gross bookings growth of 2% to 4%, room nights growth of 1% to 3% and adjusted revenue growth of 0% to 2%. The company cites softer international travel, disruption tied to the Middle East conflict and localized unrest in parts of Europe.

On profit, the company guides adjusted EBITDA (earnings before interest, tax, depreciation and amortisation) about flat and adjusted EPS growth in the low to mid teens.

Fogel cautioned that geopolitical and macroeconomic uncertainty may affect near-term travel trends, which leaves the outlook open.

The board declared a quarterly dividend of $0.42 per share to stockholders of record on December 11, 2026, payable on December 31, 2026.