NASDAQ$BKNG

Booking Holdings Inc · Q1 2025 earnings

Q1 2025 earnings · · After market close · Investor relations

Briefing

Booking Holdings reported Q1 2025 total revenues of $4.76B with net income of $333M and diluted EPS of $10.07.

Total revenues were $4.76 billion for the quarter ended March 31, 2025, up 8% year over year on gross bookings growth and higher take rates. Net income was $333 million ($10.07 diluted EPS) versus $776 million a year ago as the prior year benefited from a large unrealized gain on equity securities. Room nights and alternative accommodations mix remain central to the travel recovery narrative.

  • Q1 total revenues $4.76B (+8% YoY); gross bookings growth supported top line.
  • Net income $333M; diluted EPS $10.07.
  • Payments and merchant revenues grew as a share of revenue mix.
  • FX, travel demand, and marketing efficiency shape near-term margin outlook.

Headline financials

Total Revenue

$4.76B

Previous: $4.42B+7.9%
EPS (adj)

$10.07

Previous: $22.37-55.0%
Capital Expenditures

-$121M

Previous: -$130M+6.9%
Free Cash Flow

$3.16B

Previous: $646M+389.5%
Net Income

$333M

Previous: $776M-57.1%
Operating Income

$1.06B

Previous: $791M+34.3%
Gross Profit

$4.58B

Previous: $4.42B+3.7%

Revenue & EPS history

Booking · Revenue · Quarterly

$4.76B

Q1 2025+7.9%vs Q1 2024
Beat estimate in 10 of 15 quarters(67%)
ActualEstimate

Revenue by segment

Booking · $7.34B total across 3 segments · Q3 2023

  • Merchant Revenue
    $3.95B+50.9%
  • Agency Revenue
    $3.14B-2.1%
  • Advertising & Other
    $261M+11.1%

Forward guidance

The quarterly filing discusses operating priorities, liquidity, and sector risks.

Tailwinds

  • MD&A outlines strategic priorities and capital allocation.
  • Segment commentary supports the earnings narrative.

Headwinds

  • Macro, rates, or input costs may pressure margins.
  • One-time items can affect year-over-year comparability.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q1 2025

Historical avgQ1 2025

+1.4%

Avg return

Earnings day

-0.0%

Avg return

5 days after

+2.2%

Avg return

30 days after

57%

40 / 70 earnings

Positive

+26.9%

Q4 2009

Best reaction

-15.5%

Q2 2012

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+3.6%-4.5%-3.5%
Q4 2025-5.7%-4.7%+1.3%
Q3 2025-4.4%-1.8%-4.0%
Q2 2025+0.4%-2.1%+0.1%
Q1 2025+3.9%+5.7%+12.4%
Q4 2024-0.5%+0.3%-8.0%
Q3 2024+5.6%+7.9%+17.5%
Q2 2024-10.4%-8.0%+5.2%
Q1 2024+4.7%+5.6%+10.6%
Q4 2023-6.3%-7.0%-3.1%
Q3 2023+3.3%+8.9%+14.2%
Q2 2023+6.2%+11.8%+8.0%
Q1 2023-2.9%-0.4%-0.8%
Q4 2022+1.1%+4.0%+3.0%
Q3 2022-3.4%-2.9%+10.4%
Q2 2022-0.5%-0.0%-6.1%
Q1 2022+3.1%-3.9%+10.9%
Q4 2021-8.9%-13.7%-10.7%
Q3 2021-0.7%+7.6%-13.8%
Q2 2021+3.2%+0.9%+7.7%
Q1 2021-4.3%-5.0%-2.8%
Q4 2020-3.7%-1.6%-1.5%
Q3 2020+4.1%+17.2%+24.0%
Q2 2020+1.7%+4.7%+11.2%
Q1 2020+3.8%+0.5%+31.5%
Q4 2019-3.9%+0.1%-27.3%
Q3 2019-6.6%-6.8%-4.1%
Q2 2019+8.6%+7.3%+10.1%
Q1 2019+4.5%+2.4%+1.5%
Q4 2018-11.4%-10.9%-8.9%
Q3 2018+4.0%+3.3%-0.6%
Q2 2018-7.2%-10.3%-7.0%
Q1 2018-3.8%-4.1%-1.2%
Q4 2017+6.7%+6.7%+9.2%
Q3 2017-13.1%-10.4%-9.3%
Q2 2017-6.7%-9.2%-9.7%
Q1 2017-4.2%-4.5%-0.6%
Q4 2016+5.7%+6.3%+9.4%
Q3 2016+10.8%+8.2%+7.2%
Q2 2016+3.1%+2.6%+3.8%
Q1 2016-8.4%
Q4 2015+12.7%
Q3 2015-8.7%
Q2 2015+5.3%
Q1 2015-4.7%
Q4 2014+8.3%
Q3 2014-8.6%
Q2 2014+1.0%
Q1 2014+0.4%
Q4 2013+3.3%
Q3 2013+1.4%
Q2 2013+4.6%
Q1 2013+4.1%
Q4 2012+3.6%
Q3 2012+10.6%
Q2 2012-15.5%
Q1 2012-4.9%
Q4 2011+7.2%
Q3 2011+7.7%
Q2 2011+4.5%
Q1 2010-0.9%
Q1 2011+2.0%
Q1 2009-1.8%
Q4 2008-1.8%
Q4 2010-1.8%
Q3 2010+7.8%
Q3 2009+7.8%
Q2 2010+26.9%
Q2 2009+26.9%
Q4 2009+26.9%

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