Booking Holdings (NASDAQ:BKNG) shares gained around 2% in premarket trading Wednesday after the online travel leader reported third-quarter earnings that surpassed Wall Street expectations, driven by resilient global travel demand despite ongoing economic and geopolitical uncertainty.
The company posted earnings per share of $99.50, ahead of analyst estimates of $95.44, while revenue rose to $9 billion, beating the $8.72 billion consensus forecast. The results reflected steady booking activity across key regions in Europe and Asia.
Booking said it was “pleased to see continued momentum” heading into the fourth quarter, even as headwinds from weak consumer sentiment in some European markets persisted.
Revenue per available room (RevPAR) — a key measure of hotel performance — remained stable across Europe and Asia, Booking’s largest markets. Broader travel industry data have also remained upbeat.
For instance, Accor recently noted that while its third-quarter results faced a tough comparison with last year’s Olympic-driven surge, RevPAR was improving in the current quarter. Similarly, Hilton reported ongoing strength in Europe and the Middle East, while Wyndham signaled a slight year-over-year decline in RevPAR.
Major airlines such as United and Delta have also expressed optimism about transatlantic travel, suggesting sustained demand for hotel stays and vacation bookings through year-end.
Booking’s results underscore that post-pandemic travel demand remains solid, even as comparisons toughen and inflationary pressures persist across the hospitality sector. The company did not issue specific guidance but said current-quarter trends remain stable.
In a note, Truist Securities analysts said the results demonstrated “clear outperformance in a leisure travel industry facing a variety of macroeconomic, geopolitical, and technology considerations,” though they added that they remain “attentive” to the potential influence of artificial intelligence on Booking’s operations and “choppy U.S. leisure trends.”