Booking Holdings (NASDAQ:BKNG) reported second-quarter results that surpassed analyst expectations, driven by steady global travel demand and solid growth across its platform. The stronger-than-expected performance sent the company’s shares more than 5% higher in pre-market trading on Wednesday.
The online travel group posted adjusted earnings of $2.54 per share, exceeding Wall Street forecasts of $2.44 per share. Quarterly revenue reached $7.35 billion, ahead of the consensus estimate of $7.2 billion.
Bookings and profitability continue to improve
Adjusted earnings per share increased significantly from $1.10 in the same quarter last year, while second-quarter profit rose 15% year over year.
The number of room nights booked through Booking’s platform climbed 5% compared with the second quarter of 2025. Gross bookings increased 9% from a year earlier, or roughly 8% on a constant currency basis.
Revenue advanced 8% year over year, equivalent to around 7% at constant exchange rates. Net income surged 118%, while adjusted net income and adjusted EBITDA recorded annual growth of 8% and 9%, respectively.
Analysts remain positive on long-term outlook
Bank of America analysts said Booking could temporarily lose some room-night market share to Airbnb during the second and third quarters because of its greater exposure to travel in the Middle East and Europe.
“While Booking may lose some room night share to Airbnb in 2Q/3Q due to higher ME/Europe exposure, we continue to expect relative improvement in nights growth and multiple expansion when ME/EU travel recovers,” the analysts said.
They also maintained a constructive outlook on the stock.
“We see stock as attractive at ~17x P/E, and believe a 2H acceleration, new in-platform AI powered discovery capabilities, a strong position for Booking’s inventory in Agentic platforms, and a positive growth outlook for 2027 (easy comps.) can drive multiple expansion,” they added.
Cost-saving programme expanded
Booking Holdings also increased the expected savings from its Transformation Program, raising its target annual run-rate savings to approximately $650 million by the end of 2027.
Chief Executive Officer Glenn Fogel said the business continued to benefit from resilient consumer demand despite broader economic and geopolitical challenges.
“Despite continued geopolitical and macroeconomic uncertainty during the second quarter, the underlying desire to travel remained resilient, and we are pleased with our results, which reflect the strength of our global platform and the disciplined execution of our teams,” Fogel said.
Booking Holdings stock price
