$BKNG · Meet Kevin · 2026-11-03
BKNG 营收不及预期——8890 亿对预期 9540 亿，约低 6.9%——尽管间夜数（3.45 亿对 3.39 亿）和总预订额超预期，说话者将此解读为毛利率某处可能受到挤压。
逐段跳播
我们还会看 Booking Holdings。非常好奇他们对人工智能代理可能如何影响那项业务有什么看法。
We're going to have Booking Holdings as well. Very curious to see what their take is on how artificial intelligence agents are potentially affecting that business.
Booking，Booking 不及预期。来了。确实不及预期。我们，呃，售出间夜 3.45 亿。这确实超过了预期的 3.39 亿，呃，售出房间，但营收是 8890 亿，预期是 9540 亿。
所以，呃，Booking，BKNG，结果是不及预期。
There's booking booking misses. There it is. It is a miss. We have uh room nights sold 345 million. That did beat 339 uh million books uh rooms sold, but revenue came in at 889 billion versus 954 billion expected. So, uh booking BKNG coming in at a miss.
889 除以 950，给我大约 6.9% 的不及预期，而股价跌了大约 6.9%。总预订量确实超预期。所以听起来是有一个利润率。不，总预订量。对，某种，某种差距，在超预期的预订量和低于预期的营收之间。
所以他们不得不，听起来他们可能在毛利率那边的某个地方受到了一点挤压。
889 divided by 950 gives me about a 6.9% miss and the stock is down about 6.9%. Gross bookings do beat. So it sounds like there was a margin. No, gross bookings. Yeah, some kind of some kind of spread between bookings which beat and then revenue which came in lighter.
So, they had to It sounds like they might be getting squeezed a little bit uh somewhere on that gross margin side.