Short answer
Booking Holdings (BKNG) filed its Q3 2025 10-Q quarterly report on Oct 28, 2025 for the quarter ended Sep 30, 2025. Quarterly revenue was $9.0B (up 12.7% year over year) with net income of $2.7B.
Q3 2025 key financials · XBRL
- Revenue
- $9.0B
- +12.7% YoY · +32.5% QoQ
- Net income
- $2.7B
- +9.2% YoY · +207.0% QoQ
- Operating margin
- 38.7%
- EPS (diluted)
- $84.01
- +13.8% YoY · +207.6% QoQ
Source: XBRL data from the Booking Holdings (BKNG) Q3 2025 10-Q on SEC EDGAR. USD.
Booking Holdings Q3 2025 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Revenue $9.01B Q3 2025, up 12.7% YoY vs $7.99B Q3 2024; nine-month revenue $20.57B, up 12.6% YoY
- Operating expenses: marketing 26.0% of revenue Q3 2025 vs 26.9% YoY; sales & other expenses 11.4% Q3 2025 vs 10.9% YoY
- Merchant segment best: merchant revenues $6.13B Q3 2025 up 23.3% YoY; agency revenues worst: $2.57B down 6.7% YoY
- Cash $17.2B at Sept 30, 2025; operating cash flow $7.92B YTD 2025 vs $7.60B YTD 2024; $4.3B stock repurchases and $941M dividends paid YTD
- Management raised Transformation Program savings to $500–550M annual run-rate by 2027; noted headwinds from KAYAK goodwill impairment and potential tax impacts
Risk Factors
- No material changes to risk factors from 2024 10-K
- Carried-forward risk: exposure to global travel market volatility affecting booking volumes and revenue
- Carried-forward regulatory risk: compliance with evolving international data privacy laws impacting operations
- Carried-forward financial risk: dependency on foreign currency fluctuations due to global transactions affecting margins
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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