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# Booking Cuts Third-Quarter Revenue By $900 Million Over Priceline FTC Matter, Books Another $100 Million Loss
- URL: https://www.bullished.co/booking-cuts-third-quarter-revenue-by-900-million-over-priceline-ftc-matter-books-another-e315d0be/
- Published: 2026-11-03T22:16:40.000Z
- Updated: 2026-11-03T22:16:40.000Z
- Description: Priceline is in settlement talks with the FTC, and the agency could still seek more than the $1 billion Booking has recorded.
- Author: Matteo Parrino
- Tags: Earnings, BKNG, Industry: Consumer Discretionary

[Booking Holdings](https://www.bullished.co/tag/bkng/), the parent of Booking.com, Priceline, Agoda, KAYAK and OpenTable, took a [$900 million reduction to third-quarter revenue](https://www.sec.gov/Archives/edgar/data/0001075531/000107553126000045/bkng-20260930.htm?ref=bullished.co) and accrued a separate $100 million loss over a Federal Trade Commission matter involving Priceline, according to its 10-Q filed Tuesday. Settlement talks are under way, but no deal is in place.

## From dispute to a recorded charge

FTC staff told Priceline in July that they intended to recommend a complaint against it and a business-to-business affiliate partner, asserting unfair or deceptive practices around disclosures, fees, customer support and billing. The $900 million hit runs through total revenues, and the $100 million loss sits in general and administrative expenses.

The [prior quarterly filing](https://www.sec.gov/Archives/edgar/data/0001075531/000107553126000037/bkng-20260630.htm?ref=bullished.co) said Priceline "does not agree with the FTC's position." That sentence is gone from the new filing. The new one says any settlement would probably have Priceline paying the agency, refunding some U.S. consumers and changing certain business practices.

The company warns that litigation remains possible and that the FTC may seek penalties and restitution beyond the amounts recorded.

## What the charge did to the quarter

Third-quarter revenue came in at $8.893 billion, down from $9.008 billion a year earlier. Excluding the $900 million, [adjusted revenue](https://www.sec.gov/Archives/edgar/data/0001075531/000107553126000044/q3-26bkngearningsrelease.htm?ref=bullished.co) was $9.793 billion, up 9%. Net income was $2.717 billion, against $2.748 billion a year ago, while diluted earnings per share rose to $3.61 from $3.38.

Room nights grew 7% and gross bookings 10%, and gross bookings do not reflect the FTC matter. The company said it repurchased $2.1 billion of stock in the quarter and has $12.4 billion left on its authorization.

Booking, which at its core takes commissions on accommodation reservations, had a market value of $115.5 billion in Tuesday trading.

## Softer international demand

The Middle East conflict's direct effects on travel have largely normalized, management says, yet indirect effects like elevated flight prices still weigh on long-haul international travel. International room nights grew more slowly than domestic ones.

In its release, the company said demand moderated toward the end of the third quarter and guided fourth-quarter room night growth to 1% to 3%. The filing also lists $973 million of standby letters of credit and bank guarantees at September 30, obtained mainly for litigation matters and regulatory purposes.

The board declared a dividend of $0.42 per share, payable December 31 to holders of record on December 11.

### Sources

- [10-Q Filing — Booking Holdings (BKNG)](https://www.sec.gov/Archives/edgar/data/0001075531/000107553126000045/bkng-20260930.htm?ref=bullished.co) — SEC EDGAR
- [10-Q Filing — Booking Holdings (BKNG), Q2 FY2026 filed 2026-08-04 (comparison basis)](https://www.sec.gov/Archives/edgar/data/0001075531/000107553126000037/bkng-20260630.htm?ref=bullished.co) — SEC EDGAR
- [Earnings release (8-K Item 2.02, q3-26bkngearningsrelease.htm) — Booking Holdings, filed 2026-11-03](https://www.sec.gov/Archives/edgar/data/0001075531/000107553126000044/q3-26bkngearningsrelease.htm?ref=bullished.co) — SEC EDGAR

### More on Booking Holdings

- [Booking Holdings Adjusted EPS Climbs 17% To $4.66, But Fourth-Quarter Room Nights Seen Up Just 1% To 3%](https://www.bullished.co/booking-holdings-adjusted-eps-climbs-17-to-4-66-but-fourth-quarter-room-nights-seen-up-8726eff7/)

[All Booking Holdings (BKNG) coverage →](https://www.bullished.co/tag/bkng/)