BKNG Q1 2026 Earnings

Call Details

• Call Title: Booking Holdings Q1 2026 Earnings Call
• Date: April 28, 2026 at 8:30 PM UTC
• Management Team:
  • Glenn Fogel (Chief Executive Officer)
  • Ewout Steenbergen (Chief Financial Officer)

Call Summary

Financial Performance

• First quarter gross bookings were $53.8B, which grew 15% year-over-year.
• First quarter revenue was $5.5B, which grew 16% year-over-year.
• Adjusted EBITDA was approximately $1.3B, which increased 19% year-over-year.
• Adjusted EPS was $1.14, which grew 14% year-over-year and reflects a 25-for-1 stock split effective April 2.
• Room nights totaled 338M, representing 6% year-over-year growth and an estimated 8% growth excluding the Middle East conflict impact.
• Merchant gross bookings increased 24% year-over-year and represented about 72% of total gross bookings, up 5 percentage points versus prior year.
• On a constant currency basis, gross bookings increased about 8% and revenue increased about 10% year-over-year.

Guidance

• Second quarter guidance assumes direct and indirect impacts from the Middle East conflict continue through the end of June and assumes recent FX rates including EURUSD at 1.16.
• Second quarter room-night growth is expected to be between 2% and 4%.
• Second quarter gross bookings, revenue, and adjusted EBITDA are each expected to grow between 4% and 6%.
• Full-year 2026 reported gross bookings are expected to be up high single digits to low double digits, and revenue is expected to be up high single digits.
• Full-year adjusted EBITDA is expected to grow slightly faster than revenue with adjusted EBITDA margins expanding between 0 and 25 basis points year-over-year.
• Full-year adjusted EPS is expected to be up low to mid teens.
• Guidance assumes FX will positively impact reported growth rates by about 2 percentage points for gross bookings, about 1.5 percentage points for revenue, and about 1 percentage point for adjusted EBITDA and adjusted EPS.