Booking Holdings Inc. Common Stock · NASDAQ:BKNG
Booking Holdings Inc. Common Stock — Q2 2026 Earnings Presentation
20 slides from Booking Holdings Inc. Common Stock's earnings presentation, Aug 4, 2026
Slide 1: Q2 2026 Earnings Presentation
Confidential - Do not distribute Q2 2026 Earnings Presentation August 4, 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: Q2 2026 Financial Summary
Q2 2026 Financial Summary Trailing Twelve Months “TTM” Revenue Q2 2026 GAAP and Adjusted P&L (figures in billions) (in millions, except for EPS) GAAP YoY% Adjusted(1) YoY% Revenue $7,352 8% $7,352 8% Marketing $2,371 11% $2,371 11% Expenses Sales and Other $942 5% $942 5% Expenses Adjusted Fixed Ope
Slide 4: Q2 Room Nights Grew 5% and were Negatively Impacted by the Conflict in the Middle East
Q2 Room Nights Grew 5% and were Negatively Impacted by the Conflict in the Middle East Q2 Highlights TTM Room Nights by Quarter(1) (figures in millions) ● The conflict in the Middle East continued to affect travel demand trends in Q2. While direct impacts on travel within the region largely normaliz
Slide 5: Key Highlights
Key Highlights Booking.com Alternative Q2 Alternative Accommodation (“AA”) room nights were impacted in part by the Middle Accommodations East conflict, with mix(1) in line with Q2 2025 at ~37%. Q2 AA listings up 8% 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 Was Slightly Below Total Room Night Growth in Q2 2026
Alternative Accommodations Room Night Growth at Booking.com Was Slightly Below Total Room Night Growth in Q2 2026 Booking.com: (figures in millions) AA Listings 8.1 8.4 8.6 8.6 8.8 9.1 AA Listings 9% 8% 10% 8% 9% 8% Growth YoY 6
Slide 7: Mobile App Mix Continues to Steadily Increase Over Time
Mobile App Mix Continues to Steadily Increase Over Time Q2 2024 TTM Q2 2025 TTM Q2 2026 TTM high mid 50%’s low 50%’s 50%’s 7
Slide 8: Q2 Gross Bookings Grew 9% Driven by Room Night Growth
Q2 Gross Bookings Grew 9% Driven by Room Night Growth and a Benefit From Constant Currency ADRs Gross Bookings by Quarter (figures in billions) Q2 Highlights ● Gross Bookings growth of 9% was due to: ○ Room night growth of 5% ○ A positive impact from Constant Currency (“CC”) ADRs up about 2% ○ A pos
Slide 9: Q2 Revenue Grew 8%, which Benefited from Payments Revenue
Q2 Revenue Grew 8%, which Benefited from Payments Revenue Revenue by Quarter (figures in billions) Q2 Highlights ● Revenue growth was lower than gross bookings growth primarily due to elevated cancellations in March, which impacted revenue in the second quarter ● Revenue growth benefited from higher
Slide 10: Q2 Adjusted Fixed OpEx Grew 6% and Grew Slower than Revenue
Q2 Adjusted Fixed OpEx Grew 6% and Grew Slower than Revenue (1) Adjusted Fixed OpEx by Quarter Approximate Headcount at Quarter-End (figures in billions) Adjusted Fixed OpEx (Decline) Growth YoY Headcount Growth YoY (3%) 11% 10% 10% 14% 6% 2% 3% 2% 0% 2% 3% (1) Refer to Appendix for reconciliation o
Slide 11: Q2 Adjusted EBITDA Grew Faster than Revenue
Q2 Adjusted EBITDA Grew Faster than Revenue ● Q2 Adjusted EBITDA grew 9%, faster than revenue due to leverage across our Adjusted Fixed Operating Expenses and Sales & Other Expenses Adjusted EBITDA(1) by Quarter Adjusted EPS(1) by Quarter (figures in billions) Adjusted EBITDA Growth YoY Adjusted EPS
Slide 12: Q2's Capital Return of $4.1B Was the Highest Quarterly Amount in Company History
Q2’s Capital Return of $4.1B Was the Highest Quarterly Amount in Company History ● Q2 Free Cash Flow of $3.6 billion was up 16% year-over-year ● TTM Free Cash Flow of $9.5 billion was up 3% year-over-year (1) (2) Free Cash Flow by Quarter Capital Return by Quarter (figures in billions) (figures in b
Slide 13: Q3 2026 Guidance
Q3 2026 Guidance Reported YoY ● Global travel demand has remained resilient so far in the third quarter, supported by healthy (1) Growth domestic travel trends. As we look ahead, we remain mindful of the situation in the Middle East and continue to monitor the direct and Room Nights 3% to 5% indirec
Slide 14: FY 2026 Guidance
FY 2026 Guidance Reported YoY ● Global travel demand has remained resilient so far in the third quarter, supported by healthy (1) Growth domestic travel trends. As we look ahead, we remain mindful of the situation in the Middle East and continue to monitor the direct and Gross Bookings indirect impa
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