AI-extracted from the 10-Q filed 2026-08-04 — Q2 FY2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
Booking reported Q2 revenue of $7.4B, +8% YoY, driven by merchant revenues growing 15% as Booking.com shifts from agency to merchant model.
Biggest Revenue Drivers
Merchant revenues$5,127M+15.0% YoY
Growth in accommodation reservation services at Booking.com and ongoing shift from agency to merchant revenues
Agency revenues$1,903M-6.9% YoY
Decline due to ongoing shift from agency to merchant revenues at Booking.com
Biggest Revenue Drivers
Total revenue: $7.4B+8.1% YoY
Merchant revenues$5,127M+15.0% YoY
Growth in accommodation reservation services at Booking.com and ongoing shift from agency to merchant revenues
Agency revenues$1,903M-6.9% YoY
Decline due to ongoing shift from agency to merchant revenues at Booking.com
Advertising and other revenues$322M+8.1% YoY
Growth at OpenTable and growth in advertising revenues at Booking.com
Largest Expense Items
Marketing expenses$2,371M+10.8% YoY
Efforts to drive additional gross bookings and revenues, and changes in foreign currency exchange rates
Personnel$900M+0.5% YoY
Increase in salary expenses partially driven by changes in foreign currency exchange rates, partially offset by decrease in stock-based compensation
Sales and other expenses$942M+4.8% YoY
Increase in merchant transaction costs of $37M related to ongoing shift from agency to merchant transactions, and changes in foreign currency exchange rates
Information technology$263M+20.1% YoY
Increase in cloud computing costs and software license fees, and changes in foreign currency exchange rates
Margins: Operating income increased to $2.5B (+11% YoY) as revenue growth outpaced expense growth. However, the expansion of merchant services and lower-margin non-accommodation services within the Connected Trip strategy may negatively affect overall operating margins over time.
Watch Items from the Filing
Geopolitical exposure: Middle East conflict reduced long-haul international travel demand and elevated flight ticket prices, causing Q2 room night growth to decelerate to 5% from 6% in Q1 2026.
Regulatory investigations and fines: FTC staff intends to recommend complaint against Priceline for unfair/deceptive practices; Spain CNMC imposed €472M fine (suspended pending appeal); Swiss PSO ordered commission reduction.
Margin pressure from merchant model shift: Merchant revenues now 73% of gross bookings (up from 69% YoY), driving higher personnel and transaction costs that may offset revenue growth.
High deferred merchant bookings of $10.1B (up from $5.3B year-end 2025) subject to refunds for cancellations; represents cash received in advance of performance obligations.
Strong transformation program: $250M savings in 2025; enabled $550M annual run-rate savings and identified opportunities for $650M total, with majority coming in 2027.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
30 transactions in BKNG reported by 8 members of Congress under the STOCK Act, most recent trade Jun 1, 2026. Reported transactions, not recommendations.
About Booking Holdings Inc. (BKNG): stock profile, AI score and financials
Booking Holdings Inc. (BKNG) stock profile, AI quality score, and SEC EDGAR financial data, a Consumer Discretionary sector company. 13F Pro's AI-powered ranking engine scores BKNG at 78.6/100 on a composite quality score built from its SEC filings, placing it at rank #47 of 2,925 stocks — the top 5% of the AI-ranked universe. BKNG scores in the top quartile across institutional flow (100.0), balance sheet strength (97.4), revenue scale (94.7). Shareholder dilution risk is elevated at 36.9/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q2 2026), Booking Holdings Inc. reports quarterly revenue of $7.4B, net income of $1.9B, an operating margin of 34.0%. Top institutional holders of BKNG by reported 13-F value include BlackRock, VANGUARD CAPITAL MANAGEMENT, ALLIANCEBERNSTEIN L.P., based on the most recent SEC filings. BKNG trades on the Nasdaq exchange and files with the SEC under CIK 1075531. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate BKNG daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for Booking Holdings Inc. directly from SEC EDGAR.