- Second quarter revenue for Booking reached $6.80 billion, surpassing expectations of $6.55 billion.
- Agency revenue decreased by 4.7% year-over-year to $2.04 billion, matching estimates.
- Merchanting revenue increased by 29% year-over-year to $4.46 billion, beating the estimate of $4.22 billion.
- The adjusted EBITDA margin improved to 35.6% from 32.4% the previous year, exceeding the forecast of 33.7%.
- Advertising and other revenue totaled $297 million, a 10% increase year-over-year, slightly above the estimate of $286.6 million.
- Marketing expenses grew by 10% year-over-year to $2.14 billion, which was lower than the anticipated $2.18 billion.
- Adjusted EBITDA came in at $2.42 billion, a 28% year-over-year increase, outperforming the expected $2.21 billion.
- Gross agency bookings fell by 7.7% year-over-year to $14.4 billion, below the estimate of $14.81 billion.
- Gross merchant bookings climbed by 25% year-over-year to $32.3 billion, surpassing the estimate of $31.46 billion.
- Rental car days sold rose by 9% year-over-year.
- Adjusted earnings per share (EPS) reached $55.40, compared to $41.90 the previous year, exceeding the estimate of $50.38.
- Total gross bookings were $46.7 billion, a 13% year-over-year increase, above the estimated $46.25 billion.
- Room nights sold increased by 7.7%, totaling 309 million, ahead of the estimate of 304.55 million.
- Airline tickets sold surged by 44.2%, totaling 16 million, surpassing the estimate of 14.91 million.
- Rental car days sold amounted to 24 million, exceeding the estimate of 23.8 million.
- Analyst ratings include 28 buy recommendations, 12 holds, and 1 sell.
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Booking Holdings on Smartkarma
Booking Holdings has attracted positive analyst coverage on Smartkarma, with insights published by top analysts like Baptista Research. In their report, “Booking Holdings: A Tale Of Global Diversification & Travel Pattern Adaptation!”, the company’s strong first-quarter performance in 2025 exceeded Wall Street expectations. With reported revenue of $4.8 billion and adjusted earnings per share of $24.81, Booking Holdings outperformed analyst projections, driven by a record-breaking quarter of over 300 million room nights booked, showing a more than 7% year-over-year increase.
Furthermore, Baptista Research‘s analysis, “Booking Holdings: An Insight Into Its Merchant Model Expansion & Payment Innovations!”, highlighted the company’s robust performance in the global online travel industry. They reported a 13% year-over-year growth in room nights during the fourth quarter of 2024, exceeding expectations and indicating strong demand across major regions. The growth in room nights also led to a 17% increase in gross bookings and a 14% revenue growth, surpassing Booking Holdings‘ prior guidance, demonstrating the company’s resilience and adaptability in the evolving travel landscape.
A look at Booking Holdings Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 0 | |
| Dividend | 2 | |
| Growth | 5 | |
| Resilience | 4 | |
| Momentum | 5 | |
| OVERALL SMART SCORE | 3.2 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Booking Holdings Inc., a leading online travel company, showcases a bright long-term outlook as per the Smartkarma Smart Scores. With a strong focus on growth and momentum, the company receives top scores in these categories. This indicates that Booking Holdings is well-positioned to expand its market presence and maintain its upward trajectory. Additionally, scoring high in resilience further underlines the company’s ability to navigate challenges and demonstrate stability in the face of uncertainties. While value remains an area for potential improvement, the overall outlook for Booking Holdings points towards a promising future in the online travel industry.
Booking Holdings Inc. is a global online travel company that excels in providing travel reservation services, accommodation bookings, rental cars, airline tickets, and vacation packages. With a solid foundation and an impressive track record in serving customers worldwide, the company’s consistent growth and strong momentum reflect its commitment to innovation and meeting the evolving needs of travelers. Despite some room for enhancement in the value aspect, Booking Holdings‘ stellar performance in growth, resilience, and momentum positions it as a key player in the online travel sector with a promising long-term outlook.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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