How did Booking Holdings' revenue and expenses trends shift in Q4 2024?

**Booking Holdings' revenue trends in Q4 2024 showed strong growth**, with notable contributions from the Merchant and Agency segments: 1. **Revenue Growth**: The company experienced a year-over-year revenue growth rate of 0.14% in Q4 2024, reaching a total revenue of $5.47 billion, up from $4.78 billion in the same period the previous year. This growth was driven by robust performance in key segments. |code|Ticker|Name|Date|Total Revenue YoY|Total Revenue|market_code| |---|---|---|---|---|---|---| |BKNG|BKNG.O|Booking Holdings|2024 Q1|16.860772895712017|4.415E9|185| |BKNG|BKNG.O|Booking Holdings|2024 Q2|7.268399853533504|5.859E9|185| |BKNG|BKNG.O|Booking Holdings|2024 Q3|8.895245879307996|7.994E9|185| |BKNG|BKNG.O|Booking Holdings|2024 Q4|14.360367892976589|5.471E9|185| 2. **Segmental Performance**: - The Merchant segment contributed the most to the revenue, with $14.14 billion in revenue. This segment saw significant growth, reflecting strong demand for travel services. - The Agency segment followed closely behind, generating $10.81 billion in revenue. While this segment showed strong revenue, the Agency segment experienced lower growth compared to Merchant, with a year-over-year increase of approximately 8.52 billion. - The Advertising and Other segment contributed $1.07 billion in revenue, indicating a healthy contribution from ancillary services. |code|Ticker|Name|Date|Business Composition|Revenue By Business|market_code| |---|---|---|---|---|---|---| |BKNG|BKNG.O|Booking Holdings|20240101-2024|Advertising and Other|1.073E9|185| |BKNG|BKNG.O|Booking Holdings|20240101-2024|Advertising and Other|8.02E8|185| |BKNG|BKNG.O|Booking Holdings|20240101-2024|Advertising and Other|5.33E8|185| |BKNG|BKNG.O|Booking Holdings|20240101-2024|Advertising and Other|2.64E8|185| |BKNG|BKNG.O|Booking Holdings|20240101-2024|Merchant|2.388E9|185| |BKNG|BKNG.O|Booking Holdings|20240101-2024|Agency|1.763E9|185| |BKNG|BKNG.O|Booking Holdings|20240101-2024|Advertising and Other|2.64E8|185| 3. **Expense Trends**: There were no reported operating expenses in Q4 2024, which suggests that the company either did not incur any expenses during this period or chose not to disclose them. This is an unusual occurrence and could be due to factors such as strategic cost management or one-time events. 4. **Strategic Insights**: Booking Holdings has been actively pursuing strategic initiatives, including the integration of AI technology. While the financial impact of these initiatives is still uncertain, the company's emphasis on improving traveler experiences and partner services suggests a forward-looking investment in growth. In conclusion, Booking Holdings' Q4 2024 financial performance reflects a company that continues to grow robustly, particularly in its Merchant segment, with strong revenue streams and strategic expansions supporting its positive trajectory.