FeaturedfinanceSkift··1 min·For: Owner, Revenue, Investor
Booking Takes $1B Hit Over Potential FTC Settlement
Booking Holdings recorded a $1 billion hit to revenue and accrued losses amid talks to settle an FTC probe into Priceline's billing and disclosures. Despite regulatory friction and a moderating international travel outlook, room nights grew 7% in the third quarter.
Key Takeaways
- 1Booking took a $900M revenue reduction and $100M loss reserve over a potential FTC settlement regarding Priceline.
- 2Q3 net income fell 1% to $2.7B on $8.9B in revenue, though room night growth accelerated to 7%.
- 3Leadership expects a 'mixed' Q4 as international travel moderates while domestic and shorter trips stay resilient.
Source: Skift
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