Booking Holdings Inc. Common Stock · NASDAQ:BKNG
Booking Holdings Inc. Common Stock — Q1 2026 Earnings Presentation
20 slides from Booking Holdings Inc. Common Stock's earnings presentation, Apr 28, 2026
Slide 1: Q1 2026 Earnings Presentation
Confidential - Do not distribute Q1 2026 Earnings Presentation April 28, 2026
Slide 2: Disclaimer
Disclaimer Disclosure Regarding Forward-Looking Statements This presentation contains forward-looking statements including regarding our outlook. These forward-looking statements reflect the views of Booking Holdings Inc.’s (the “Company” or “Booking Holdings”) management regarding current expectati
Slide 3: Q1 2026 Financial Summary
Q1 2026 Financial Summary Trailing Twelve Months “TTM” Revenue Q1 2026 GAAP and Adjusted P&L (figures in billions) (in millions, except for EPS) GAAP YoY% Adjusted(1) YoY% Revenue $5,532 16% $5,532 16% Marketing $2,068 16% $2,068 16% Expenses Sales and Other $804 15% $818 17% Expenses Adjusted Fixed
Slide 4: Q1 Room Nights Grew 6% and were Negatively Impacted by the Conflict in the Middle East
Q1 Room Nights Grew 6% and were Negatively Impacted by the Conflict in the Middle East Q1 Highlights TTM Room Nights by Quarter (figures in millions) ● We estimate Room Night Growth excluding the impact of the conflict in the Middle East was about 8%(1) ● Following the onset of the conflict we saw a
Slide 5: Key Highlights
Key Highlights Booking.com Alternative Q1 Alternative Accommodation (“AA”) Room Nights grew about in line with total BKNG Accommodations room night growth, with mix(1) increasing YoY to about 38%. Q1 AA listings up 9% YoY Mobile App Mix TTM Mobile App mix(2) was in the high 50%’s (up from the mid 50
Slide 6: Alternative Accommodations Room Night Growth at Booking.com
Alternative Accommodations Room Night Growth at Booking.com Was About in Line With Total Room Night Growth in Q1 2026 Booking.com: (figures in millions) AA Listings 8.1 8.4 8.6 8.6 8.8 AA Listings 9% 8% 10% 8% 9% Growth YoY 6
Slide 7: Mobile App Mix Continues to Steadily Increase Over Time
Mobile App Mix Continues to Steadily Increase Over Time Q1 2024 TTM Q1 2025 TTM Q1 2026 TTM high mid 50%’s low 50%’s 50%’s 7
Slide 8: Q1 Gross Bookings Grew 15% Driven by a Benefit From Changes in FX
Q1 Gross Bookings Grew 15% Driven by a Benefit From Changes in FX and Room Night Growth Gross Bookings by Quarter (figures in billions) Q1 Highlights ● We estimate that the situation in the Middle East impacted gross booking growth similar to the impact observed in room night growth(1) ● Gross Booki
Slide 9: Q1 Revenue Grew 16%, which Benefited from Payments Revenue
Q1 Revenue Grew 16%, which Benefited from Payments Revenue Revenue by Quarter (figures in billions) Q1 Highlights ● We estimate that the situation in the Middle East impacted revenue growth slightly lower than the impact observed (1) in room night growth ● Revenue growth benefited from higher paymen
Slide 10: Q1 Adjusted Fixed OpEx Grew 14% and Grew Slower than Revenue
Q1 Adjusted Fixed OpEx Grew 14% and Grew Slower than Revenue ● Q1 Adjusted Fixed OpEx was up low single digits year-over-year after normalizing for changes in FX and one-time benefits in Q1 2025 (1) Adjusted Fixed OpEx by Quarter Approximate Headcount at Quarter-End (figures in billions) Adjusted Fi
Slide 11: Q1 Adjusted EBITDA Grew Faster than Revenue
Q1 Adjusted EBITDA Grew Faster than Revenue ● Q1 Adjusted EBITDA grew 19%, which was faster than revenue growth due to leverage in our Adjusted Fixed Operating Expenses (1) (1) Adjusted EBITDA by Quarter Adjusted EPS by Quarter (figures in billions) Adjusted EBITDA Growth YoY Adjusted EPS Growth YoY
Slide 12: Q1's Capital Return of $4.0B Was the Highest Quarterly Amount in Company History
Q1’s Capital Return of $4.0B Was the Highest Quarterly Amount in Company History ● Q1 Free Cash Flow of $3.1 billion was down 2% year-over-year ● TTM Free Cash Flow of $9.0 billion was up 6% year-over-year (1) Free Cash Flow by Quarter Capital Return by Quarter (figures in billions) (figures in bill
Slide 13: Q2 2026 Guidance
Q2 2026 Guidance ● We are assuming the direct and indirect impact Reported YoY from the conflict in the Middle East continues (1) through the end of June. Specifically, our Growth outlook accounts for continued fluctuations in travel demand across Middle Eastern inbound, Room Nights 2% to 4% outboun
Slide 14: FY 2026 Guidance
FY 2026 Guidance Reported YoY (1) Growth Gross Bookings High Single Digits to Low ● Our planning assumption is that the Double Digits direct and indirect impact from the conflict in the Middle East continues Revenue High Single Digits through the end of June, followed by a recovery in bookings in th
Slide 15: Appendix: Reconciliation of GAAP to Non-GAAP Financial Information
Appendix: Reconciliation of GAAP to Non-GAAP Financial Information (figures in millions) Note: Amounts may not total due to rounding. 15
Slide 16: Appendix: Reconciliation of GAAP to Non-GAAP Financial Information
Appendix: Reconciliation of GAAP to Non-GAAP Financial Information (figures in millions) Note: Amounts may not total due to rounding. 16
Slide 17: Appendix: Reconciliation of GAAP to Non-GAAP Financial Information
Appendix: Reconciliation of GAAP to Non-GAAP Financial Information (figures in millions, except per share data) Note: Amounts may not total due to rounding. 17
Slide 18: Appendix: Reconciliation of GAAP to Non-GAAP Financial Information
Appendix: Reconciliation of GAAP to Non-GAAP Financial Information (figures in millions) Note: Amounts may not total due to rounding. 18
Slide 19: Appendix: Reconciliation of GAAP to Non-GAAP Financial Information
Appendix: Reconciliation of GAAP to Non-GAAP Financial Information 19
Slide 20: Appendix: Reconciliation of GAAP to Non-GAAP Financial Information
Appendix: Reconciliation of GAAP to Non-GAAP Financial Information (figures in millions) Note: Amounts may not total due to rounding. NM: Not meaningful. 20