A $1 billion blow to Booking: Hotel listings hit the balance sheet

Booking Holdings cut its third-quarter revenue by $900 million and booked a $100 million loss provision tied to a U.S. consumer protection review, though no penalty has been finalized. The disclosure, which amounts to a roughly $1 billion hit, comes as regulators scrutinize the company's hotel listing and booking practices. The adjustment reduces reported revenue for the quarter and signals potential further costs depending on the outcome of the probe. Investors will watch for details on the scope of the review and whether additional provisions or formal penalties follow.