The following is a summary of the Booking Holdings Inc. (BKNG) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Booking Holdings reported a strong Q3 with revenue of $8 billion, a 9% growth year-over-year.

• Adjusted EBITDA was $3.7 billion, up 12% year-over-year, and adjusted EPS grew by 16% largely due to a strong capital return program.

• Room nights grew by 8% year-over-year, outpacing the company's expectations.

• The company's financial strength is also reflected in their careful management of OpEx, contributing to a solid adjusted EBITDA margin of 45.8%.

Business Progress:

• Booking Holdings is advancing in AI technology, applying it across various operational areas to drive efficiency and enhance user experience.

• Significant growth in alternative accommodations, with listings on Booking.com reaching 7.9 million, a 10% increase from last year.

• Strong performance in flights, with tickets booked increasing by 39% year-over-year.

• The company is actively expanding its Genius loyalty program beyond accommodations to foster higher customer retention and satisfaction.

Opportunities:

• Continued expansion in Asia representing a strategic opportunity given the region's high market growth rate.

• Further growth in alternative accommodations and flights, leveraging increasing listings and the expansion of Booking.com's flight offerings.

Risks:

• Potential operational challenges as AI integration and new market expansions scale, requiring careful management to avoid disruptions.

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