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Dec 31, 2025
Booking Q4 2025 Earnings Report
Booking reported strong fourth quarter 2025 results with double-digit revenue growth and margin expansion.
Key Takeaways
Booking delivered 16% revenue growth in Q4 2025, with net income rising to $1.428 billion and adjusted EPS of $48.80, supported by solid gross bookings growth and improved margins.
Revenue increased to $6349000000 in Q4 2025.
Net income grew to $1428000000 with margin expansion.
Adjusted EBITDA reached $2195000000 with improved profitability.
Gross bookings rose to $43000000000 driven by room night growth.
Revenue by Segment
Forward Guidance
For Q1 2026, Booking expects revenue growth of 14% to 16% and adjusted EBITDA growth of 10% to 14%, with continued focus on top-line expansion and margin discipline.
Positive Outlook
- Q1 2026 revenue growth expected between 14% and 16%.
- Adjusted EBITDA growth projected at 10% to 14%.
- Constant currency gross bookings growth expected between 7% and 9%.
- Full year constant currency revenue expected to grow high single digits.
- Adjusted EPS growth expected in the mid-teens for FY 2026.
Challenges Ahead
- Foreign exchange expected to impact reported growth rates.
- Travel industry growth assumptions remain subject to macro conditions.
- Guidance assumes industry growth in line with recent years.
- Bottom-line performance expected in line with long-term framework, not accelerating.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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