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BKNG: Growth is fueled by network effects, AI innovation, and disciplined investment in key markets

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Network effects and expansion in Asia and alternatives drive strong growth, supported by disciplined investment and operational efficiency. Generative AI enhances customer experience and cost savings, while social channels attract younger users. Capital returns remain a priority.

Based on Booking Holdings Inc. Common Stock [BKNG] 53rd Annual Nasdaq Investor Conference Audio Transcript — Dec. 9 2025

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