What drove BKNG's earnings growth in Q3 2024?

Booking Holdings' (BKNG) earnings growth in Q3 2024 was primarily driven by robust performance across its merchant business, which includes hotel bookings, rental cars, and airline tickets:

1. **Strong Growth in Merchant Business**:
- The company's merchant business segment, which includes Booking.com, Priceline, and Agoda, delivered significant growth, contributing to the overall revenue expansion.
- Specifically, there was a notable increase in gross bookings, with strong performance across various units such as rental cars and airline tickets.
2. **International Performance and Market Expansion**:
- Booking Holdings' global footprint, particularly in Europe and Asia, has been a key growth driver. This international presence allows the company to capture demand from travelers across diverse regions.
- The company's strategic expansions and partnerships, such as the partnership with Visa for restaurant reservations, also contributed to its growth.
3. **Technological Advancements and Innovation**:
- Booking Holdings continues to invest in and enhance its AI capabilities, which are driving growth in areas like personalized travel recommendations and seamless transaction processes.
- The development of integrated travel solutions and the introduction of new features, like the connected trip feature, are enhancing the user experience and increasing bookings.

In summary, BKNG's Q3 2024 earnings growth was driven by strong performance in its merchant business, international market expansion, and technological advancements. These factors collectively contributed to the company's revenue growth and operational efficiency.