| Imagery Source: Pexels |
| Information Source: Booking Holdings Inc |
| Booking Holdings Inc. (NASDAQ: BKNG) (the “Company,” “we,” “our,” or “us”) today reported its second quarter 2025 financial results. |
- Room nights grew 8% compared to the second quarter of 2024.
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- Gross bookings grew 13% compared to the second quarter of 2024, or 9% on a constant currency basis.
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- Revenue grew 16% compared to the second quarter of 2024, or 12% on a constant currency basis.
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| "We are pleased to report a strong second quarter with 8% room night growth and a double-digit increase in gross bookings and revenue, reflecting disciplined execution against our strategic initiatives," said Glenn Fogel, Chief Executive Officer of Booking Holdings. "We reached a milestone with Connected Trip transactions, where customers choose to book more than one travel vertical with us, representing a low double-digit share of Booking.com’s total transactions and up over 30% year-over-year. This was driven by healthy growth across our other verticals, including flight tickets up 44%. We’re encouraged by this progress and remain focused on these and other long-term growth drivers that create meaningful value for our travellers and partners." |
| Second Quarter 2025 vs. 2024 |
| Top Line Metrics |
- Alternative accommodation room nights at Booking.com increased by a low double-digit percentage.
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- Constant Currency ADRs decreased 1%(1)
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- Gross bookings increased 13% and revenues increased 16%
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| Marketing Metrics |
- Marketing expense as a percentage of gross bookings was 4.6% (4.7% in Q2 2024)
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- Over the trailing four quarters, the mix of our total room nights booked through the direct channel was a mid-fifties percentage and increased year-over-year.r
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| GAAP EPS -38% |
| Adjusted EPS +32% |
| Fixed Cost Discipline |
- Total operating expenses increased 14%, slower than the 16% growth in revenue.
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- Adjusted fixed operating expenses increased 11% driven by adverse FX changes, increased performance-based compensation accruals, and higher cloud computing costs.
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| Margins |
- Net Income margin of 13.2% (26.0% in Q2 2024)
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- Adjusted EBITDA margin of 35.6% (32.4% in Q2 2024)
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| Active Return of Capital to Shareholders |
| Third Quarter Dividend |
- Our Board of Directors declared a cash dividend of $9.60 per share, payable on September 30, 2025, to stockholders of record as of the close of business on September 5, 2025.
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| Stock Repurchase Program |
- We repurchased $1.3 billion of stock in the quarter ended June 30, 2025, with a total remaining authorisation of $24.6 billion.
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| Booking Holdings' guidance for the third quarter and full year of 2025 is as follows: |
| We have continued to see steady travel demand trends in our business so far in the third quarter. However, we note that comparisons to the prior-year third quarter will be higher in August and September. |
| For the full document, click the link below |
| Booking Holdings Inc |
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