Booking Holdings Inc. Common Stock · NASDAQ:BKNG
Booking Holdings Inc. Common Stock — Q3 2024 Earnings Presentation
19 slides from Booking Holdings Inc. Common Stock's earnings presentation, Oct 30, 2024
Slide 1: Q3 2024 Earnings Presentation
Q3 2024 Earnings Presentation October 30, 2024
Slide 2: Disclaimer
Disclaimer Disclosure Regarding Forward-Looking Statements This presentation contains forward-looking statements. These forward-looking statements reflect the views of Booking Holdings Inc.’s (the “Company” or “Booking Holdings” or “BKNG”) management regarding current expectations and projections ab
Slide 3: Q3 2024 Financial Summary
Q3 2024 Financial Summary Trailing Twelve Months (“TTM”) Revenue Q3 2024 GAAP and Adjusted P&L (figures in billions) (in millions, except for EPS) GAAP YoY% Adjusted(1) YoY% Revenue $7,994 9% $7,994 9% Marketing $2,151 6% $2,151 6% Sales and Other $872 8% $872 8% Adjusted Fixed Operating NA NA $1,27
Slide 4: Q3 Room Night Growth Exceeded the High End of our Guidance Expectations
Q3 Room Night Growth Exceeded the High End of our Guidance Expectations Room Nights by Quarter Q3 Highlights (figures in millions) ✔ Room Night Growth (“RNG”) exceeded the high end of our guidance by three percentage points ✔ Room Night Growth by region(1): − Europe: up high single digits − Asia: up
Slide 5: Q3 2024 Key Highlights
Q3 2024 Key Highlights Alternative Booking.com Alternative Accommodation (“AA”) Room Nights Accommodations grew 14% YoY with mix at 35%. AA listings up 10% YoY. (1) Mobile App mix was in the mid 50%’s (up from the low (2) Mobile App Mix 50%’s in Q3 2023) TTM direct mix was in the mid 50%’s (excludin
Slide 6: Alternative Accommodations Room Night Growth at Booking.com Outpacing Total Growth
Alternative Accommodations Room Night Growth at Booking.com Outpacing Total Growth Booking.com: (figures in millions) AA Listings 7.0 7.2 7.4 7.4 7.8 7.9 AA Listings Growth YoY 8% 9% 12% 11% 11% 10% 6
Slide 7: Mobile App Mix Continues to Steadily Increase Over Time
Mobile App Mix Continues to Steadily Increase Over Time Q3 2024 mid Q3 2023 Q3 2022 low 50%’s mid 50%’s 40%’s 7
Slide 8: Q3 Gross Bookings Growth Exceeded the High End of our Guidance Expectations
Q3 Gross Bookings Growth Exceeded the High End of our Guidance Expectations Gross Bookings by Quarter (figures in billions) Q3 Highlights ✔ Gross Bookings growth exceeded the high end of our guidance by five percentage points ✔ Gross Bookings growth of 9% was due to: − Room Night growth of 8% − Stro
Slide 9: Q3 Revenue Growth Exceeded the High End of our Guidance Expectations
Q3 Revenue Growth Exceeded the High End of our Guidance Expectations Revenue by Quarter Q3 Highlights (figures in billions) ✔ Revenue growth exceeded the high end of our guidance by five percentage points ✔ Revenue growth was similar to Gross Bookings growth Revenue Growth YoY 40% 27% 21% 18% 17% 7%
Slide 10: Q3 Adjusted Fixed OpEx Growth was Below Expectations and Grew Slower than Revenue
Q3 Adjusted Fixed OpEx Growth was Below Expectations and Grew Slower than Revenue Adjusted Fixed OpEx by Quarter Approximate Headcount at Quarter-End (figures in billions) Adjusted Fixed OpEx Growth YoY Headcount Growth YoY 25% 20% 24% 21% 11% 5% 7% 7% 19% 13% 9% 7% 5% 3% Refer to Appendix for recon
Slide 11: Q3 Adjusted EBITDA Exceeded Expectations and Grew Faster than Revenue
Q3 Adjusted EBITDA Exceeded Expectations and Grew Faster than Revenue ● Q3 Adjusted EBITDA of $3.7 billion was 9% above the high end of our guidance Adjusted EBITDA by Quarter Adjusted Diluted EPS by Quarter (figures in billions) Adjusted EBITDA Growth YoY Adjusted Diluted EPS Growth YoY 89% 64% 24%
Slide 12: We had Strong Free Cash Flow and Capital Return in the Quarter
We had Strong Free Cash Flow and Capital Return in the Quarter ● Q3 Free Cash Flow of $2.3 billion grew 76% YoY Free Cash Flow by Quarter Capital Return by Quarter (figures in billions) (figures in billions) (1) Free Cash Flow Growth (Decline) YoY Weighted Average Diluted Share Count Growth (Decline
Slide 13: Q4 and Full-Year 2024 Guidance
Q4 and Full-Year 2024 Guidance Room Night Growth 4Q24: between 6% and 8% 4Q24: between 7% and 9% Gross Bookings Growth FY24: Gross Bookings growth expected to be about 8% 4Q24: between 7% and 9% Revenue Growth FY24: Revenue growth expected to be just below 10% Adjusted EBITDA 4Q24: between about $1.
Slide 14: Appendix: Reconciliation of GAAP to Adjusted Financial Information
Appendix: Reconciliation of GAAP to Adjusted Financial Information (figures in millions) Note: Amounts may not total due to rounding. NM: Not meaningful. 14
Slide 15: Appendix: Reconciliation of GAAP to Adjusted Financial Information
Appendix: Reconciliation of GAAP to Adjusted Financial Information (figures in millions) Note: Amounts may not total due to rounding. 15
Slide 16: Appendix: Reconciliation of GAAP to Adjusted Financial Information
Appendix: Reconciliation of GAAP to Adjusted Financial Information (figures in millions, except share and per share data) Note: Amounts may not total due to rounding. NM: Not meaningful. Tax Act: U.S. Tax Cuts and Jobs Act enacted in December 2017. 16
Slide 17: Appendix: Reconciliation of GAAP to Adjusted Financial Information
Appendix: Reconciliation of GAAP to Adjusted Financial Information (figures in millions) Note: Amounts may not total due to rounding. NM: Not meaningful. 17
Slide 18: Appendix: Reconciliation of GAAP to Adjusted Financial Information
Appendix: Reconciliation of GAAP to Adjusted Financial Information 18
Slide 19: Appendix: Reconciliation of GAAP to Adjusted Financial Information
Appendix: Reconciliation of GAAP to Adjusted Financial Information (figures in millions) Note: Amounts may not total due to rounding. NM: Not meaningful. 19