Booking Holdings Inc. (BKNG) Earnings
Booking Holdings Inc. is expected to report next earnings on August 5, 2026 (in NaN days), with a consensus EPS estimate of $2.44. BKNG has beaten EPS estimates in 11 of its last 12 reported quarters (average surprise +14.7% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 28, 2026 | $1.08 | $1.14 | +5.6% | $5.5B | +0.2% |
| Feb 18, 2026 | $48.69 | $48.80 | +0.2% | $6.3B | +3.4% |
| Jul 29, 2025 | $50.32 | $55.40 | +10.1% | $6.8B | +3.7% |
| Apr 29, 2025 | $17.34 | $24.81 | +43.1% | $4.8B | +3.6% |
| Feb 20, 2025 | $35.82 | $41.55 | +16.0% | $5.5B | +5.6% |
| Aug 1, 2024 | $38.37 | $41.90 | +9.2% | $5.9B | +1.5% |
| May 2, 2024 | $14.09 | $20.39 | +44.7% | $4.4B | +3.8% |
| Feb 22, 2024 | $29.48 | $32.00 | +8.5% | $4.8B | +1.7% |
| Nov 2, 2023 | $67.61 | $72.32 | +7.0% | $7.3B | +7.1% |
| Aug 3, 2023 | $28.90 | $37.62 | +30.2% | $5.5B | +5.6% |
| May 4, 2023 | $10.48 | $11.60 | +10.7% | $3.8B | +0.1% |
| Feb 23, 2023 | $22.23 | $24.74 | +11.3% | $4.0B | +3.9% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · April 28, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
- Acknowledged current macro environment including Middle East conflict impact on travel, but emphasized enduring travel demand. - Discussed global business execution, with strong results despite Middle East conflict. - Mentioned expanding reach in key markets like U.S. and Asia, advancing connected trip vision, and innovating with GenAI. - Highlighted U.S. direct channel growth, Asia's structural growth opportunities with localized strategies, and progress in connected trip and GenAI initiatives.
Guidance
- Second quarter guidance assumes Middle East conflict impact continues through end of June, expects room-night growth between 2% and 4%, gross bookings, revenue, and adjusted EBITDA to each grow between 4% and 6%. - Full-year 2026 guidance assumes Middle East conflict impact continues through end of June then recovery, expects gross bookings up high single digits to low double digits, revenue up high single digits, adjusted EBITDA to grow slightly faster than revenue with margins expanding 0-25 basis points, adjusted EPS up low to mid teens. Also mentioned FX rates impact on growth rates.
Segment performance
In the first quarter, room nights were 338 million, 6% year-over-year growth (8% excluding Middle East conflict impact). Gross bookings were $53.8 billion, up 15%. Revenue was $5.5 billion, up 16%. Adjusted EBITDA was approximately $1.3 billion, up 19%. Adjusted EPS was $1.14, up 14%. U.S. room night growth accelerated for the fourth consecutive quarter to low teens, driven by domestic demand. Asia had high single-digit room night growth. Connected transactions grew in the high teens range and represented a low double-digit percentage of Booking.com's total transactions.
Risks & headwinds
- Geopolitical developments like Middle East conflict can impact travel volumes and create near-term volatility. - Sustained disruption could introduce broader inflationary pressures, including jet fuel price fluctuations, airline capacity reductions, and weigh on traveler sentiment broadly.
Analyst Q&A
Q: About Middle East situation, clarify second quarter impact and consumer cautiousness.
A: Ewout mentioned approximately three points of headwind in second quarter, assuming Middle East impact continues for full quarter, and Glenn talked about travel crises history and different sentiment by region.
Q: On Gen Tech, positioned competitively in AI engines.
A: Excited about AI transition, using AI to improve offerings, relations with frontier players, increasing travel TN, and making internal operations efficient.
Q: On U.S. room night growth and cross-selling.
A: Glenn talked about U.S. growth due to product building and cross-selling with connected trip, Ava mentioned U.S. travel market high end strong, lower end improving, and global travel demand healthy outside impacted areas.
Q: On AI strategy and product experiences merging.
A: Ron was told about multiple AI efforts across brands, testing and sharing, and early stage but positive progress.
Q: On strengthening Genius program and scaling AI capabilities.
A: Glenn said working on strengthening Genius, and rolling out AI capabilities is about testing, meeting regulations, and protecting customer experience