Booking Holdings total revenues for the 3rd quarter were $4.8 billion as compared to gross profit of $4.4 billion, an 11% increase from the prior year (approximately 13% on a constant-currency basis). Net income in the 3rd quarter
was $1.8 billion, a 3% increase versus the prior year. Net income was $37.02 per diluted share, an 8% increase as compared to the prior year. Net income in the 3rd quarter of 2018 includes before tax amounts of approximately $31 million of net unrealized gains on marketable equity securities, pursuant to the adoption of a new accounting update
effective for periods beginning after December 31, 2017, and an unfavorable net travel transaction tax charge of approximately $22 million related to prior periods, which includes approximately $1 million of interest income
from a related matter.
Non-GAAP net income in the 3rd quarter was $1.8 billion, a 2% increase versus the prior year. Non-GAAP net income was $37.78 per diluted share, a 7% increase as compared to the prior year. Adjusted EBITDA for the 3rd
quarter was $2.4 billion, an 8% increase versus a year ago. Non-GAAP net income and adjusted EBITDA exclude the net unrealized gains on marketable equity securities of approximately $31 million before tax. In addition, Non-GAAP net income and adjusted EBITDA also exclude the net travel transaction tax charge before tax related to
prior periods of approximately $22 million and $23 million,
respectively. The section below entitled "Non-GAAP Financial Measures" provides definitions and information about the use of non-GAAP financial measures in this
press release, and the attached financial and statistical supplement reconciles non-GAAP financial information with
Booking Holdings' financial results under GAAP.
"Booking Holdings delivered solid growth and operating results during our seasonally busy third quarter," said Glenn Fogel, Chief Executive Officer of Booking Holdings. "Globally, our accommodation business reported a new milestone of more than 200 million room nights booked in a single quarter, which is up 13% over the same
period last year."
Looking forward, Mr. Fogel said, "As we look to the fourth quarter and beyond, we will continue to focus on making the right investments across our brands - in people, systems, and marketing - to continue to grow our business for the long term."
Press Releases | Booking Holdings
