Booking Holdings Stock Earnings Reports

Booking Holdings delivered a solid Q1 2026: gross bookings rose 15% to $53.8B, revenue grew 16% to $5.5B, adjusted EBITDA increased 19% to about $1.3B, and adjusted EPS was $1.14 (+14%). Room nights were 338M (+6% year-over-year; ~8% ex the Middle East conflict). The company estimates the Middle East conflict reduced room night and gross bookings growth by ~2 percentage points in Q1 and assumes the direct and indirect impact will continue through June, modeling ~3 points of headwind in Q2. Management reiterated focus on long-term strategy: investing in the U.S. and Asia, expanding direct channels and the Connected Trip cross-vertical strategy, strengthening the Genius loyalty program, and scaling GenAI capabilities (Penny, natural-language search, AI-driven customer service). Merchant mix continues to grow (~72% of gross bookings), supporting higher payment revenue. They executed a record $3.6B share repurchase in Q1, returning substantial capital while maintaining a strong cash position ($16.5B). Q2 guidance assumes room night growth of 2–4% and gross bookings/revenue/adjusted EBITDA growth of 4–6%; full-year 2026 guidance lowered at the midpoint given the assumed conflict impact but maintains long-term ambition of ~8% gross bookings and revenue growth and ~15% adjusted EPS growth in future years. Management emphasized disciplined cost management, continued strategic investment, and the potential for AI to drive conversion, efficiency and the Connected Trip vision.