Booking Holdings Q3 2025 Results: Room Nights Up 8%, Gross Bookings Up 14%

Booking Holdings reported Q3 2025 financial results. Room nights were 323 million, up 8% year-on-year; gross bookings were $49.7 billion, up 14% (10% on a constant currency basis); revenue was $9.0 billion, up 13% (8% on a constant currency basis). Adjusted EBITDA was $4.2 billion, up 15%. The company raised its Transformation Program annual run-rate savings target to $500-550 million. KAYAK recorded a $457 million impairment of goodwill and certain intangible assets. Q4 dividend is $9.60 per share.