Booking Holdings (BKNG) Q1 FY2026 earnings: revenue $5.5 billion, up 16.2% on the year

Booking Holdings Inc. (BKNG) reported revenue of $5.5 billion for Q1 FY2026, the quarter ended 31 March 2026, up 16.2% on the same quarter a year earlier. Net income was $1.1 billion, up 225.2% on the year, and diluted earnings per share $1.36. The figures are the company's own, from the 10-Q it filed with the SEC on 28 April 2026.

Revenue

$5.5 billion

+16.2% on the year · -12.9% on the quarter

Q2 FY2024Q1 FY2026

Operating margin

23.0%

22.3% a year earlier

Q2 FY2024Q1 FY2026

Net income

$1.1 billion

+225.2% on the year · -24.2% on the quarter

Q2 FY2024Q1 FY2026

Diluted EPS

$1.36

+237.6% on the year · -22.1% on the quarter

Q2 FY2024Q1 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 1 lowered, 7 new.

Bookings and revenue both grew: Gross bookings rose 15% to $53.8B, about 8% on a constant currency basis. Revenue rose 16% to $5.5B, about 10% on a constant currency basis. Room nights rose 6% to 338 million.
Net income and EBITDA grew sharply: GAAP net income was $1.1B, up 225%. Adjusted EBITDA was $1.3B, up 19%, with a margin of 23.3% against 22.9% a year earlier.
Merchant gross bookings grew 24%: Merchant gross bookings reached $38.7B in the quarter, up 24.3% year over year.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q1 FY2026	Q4 FY2025	Q1 FY2025	On the quarter	On the year
Revenue	5,532	6,349	4,762	-12.9%	+16.2%
Operating income	1,271	2,030	1,062	-37.4%	+19.7%
Operating margin	23.0%	32.0%	22.3%
Interest expense	253	249	649	+1.6%	-61.0%
Pre-tax income	1,399	1,863	396	-24.9%	+253.3%
Income tax	316	435	63.0	-27.4%	+401.6%
Effective tax rate	22.6%	23.3%	15.9%
Net income	1,083	1,428	333	-24.2%	+225.2%
Net margin	19.6%	22.5%	7.0%
Diluted EPS	$1.36	$1.75	$0.40	-22.1%	+237.6%

$ million except per share.

Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q1 FY2026	Q4 FY2025	Q1 FY2025	On the quarter	On the year
Operating cash flow	3,215	1,490	3,283	+115.8%	-2.1%
Capital expenditure	107	73.0	121	+46.6%	-11.6%
Free cash flow	3,108	1,417	3,162	+119.3%	-1.7%
Free cash flow margin	56.2%	22.3%	66.4%
Cash from investing	-107	-71.0	-118
Cash from financing	-4,026	-667	-3,967
Depreciation and amortisation	131	151	154	-13.2%	-14.9%
Share-based compensation	141	166	143	-15.1%	-1.4%
Buybacks	3,770	2,119	2,170	+77.9%	+73.7%
Dividends paid	343	307	319	+11.7%	+7.5%
Dividend per share	$0.42	n/a	$0.38		+9.4%
Diluted shares, weighted	794m	816m	827m	-2.7%	-4.0%
Shares outstanding at period end	775m	792m	814m	-2.1%	-4.7%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q1 FY2026	Q4 FY2025	Q1 FY2025	On the quarter	On the year
Shareholders' equity	-8,724	-5,578	-6,112
Debt	18,413	18,736	16,024	-1.7%	+14.9%
Operating lease liabilities	530	557	476	-4.8%	+11.3%
Finance lease liabilities	n/a	0.0	n/a
Other liabilities	17,501	15,549	16,803	+12.6%	+4.2%
Total liabilities and equity	27,720	29,264	27,191	-5.3%	+1.9%
Fixed assets	784	807	857	-2.9%	-8.5%
Goodwill	2,662	2,669	2,816	-0.3%	-5.5%
Intangible assets	882	918	1,333	-3.9%	-33.8%
Investments	473	582	538	-18.7%	-12.1%
Cash and equivalents	16,024	17,203	15,578	-6.9%	+2.9%
Receivables	3,520	3,820	3,290	-7.9%	+7.0%
Other assets	3,375	3,265	2,779	+3.4%	+21.4%
Total assets	27,720	29,264	27,191	-5.3%	+1.9%

Questions

What was Booking Holdings' revenue in Q1 FY2026?

Booking Holdings (BKNG) reported revenue of $5.5 billion for Q1 FY2026, the quarter ended 31 March 2026, up 16.2% on the same quarter a year earlier.

How much did Booking Holdings earn in Q1 FY2026?

Net income for Q1 FY2026 was $1.1 billion, up 225.2% on the year, and diluted earnings per share $1.36.

When did Booking Holdings report Q1 FY2026 results?

Booking Holdings filed its 10-Q for the quarter ended 31 March 2026 with the SEC on 28 April 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	2,981	2,695	4,294	6,052	4,049	3,778	5,462	7,341	4,784	4,415	5,859	7,994	5,471	4,762	6,798	9,008	6,349	5,532	7,352	8,893
Operating income	848	174	1,000	2,583	1,345	450	1,673	3,103	609	791	1,856	3,179	1,729	1,062	2,250	3,483	2,030	1,271	2,500	3,418
Operating margin	28%	6%	23%	43%	33%	12%	31%	42%	13%	18%	32%	40%	32%	22%	33%	39%	32%	23%	34%	38%
Interest expense	75.0	68.0	76.0	102	145	194	241	254	208	219	264	305	507	649	418	301	249	253	300	311
Pre-tax income	816	-849	1,144	2,176	1,452	303	1,618	3,149	411	937	1,922	2,869	1,564	396	1,104	3,469	1,863	1,399	2,560	3,423
Tax rate	24%	n/a	25%	23%	15%	12%	20%	20%	46%	17%	21%	12%	32%	16%	19%	21%	23%	23%	24%	21%
Net income	618	-700	857	1,666	1,235	266	1,290	2,511	222	776	1,521	2,517	1,068	333	895	2,748	1,428	1,083	1,950	2,717
Net margin	21%	-26%	20%	28%	31%	7%	24%	34%	5%	18%	26%	31%	20%	7%	13%	31%	22%	20%	27%	31%
Diluted EPS	$0.60	-$0.68	$0.84	$1.68	$1.28	$0.28	$1.40	$2.79	$0.25	$0.89	$1.78	$2.97	$1.26	$0.40	$1.10	$3.38	$1.75	$1.36	$2.53	$3.61
Operating cash flow	279	1,695	2,684	2.0	2,173	2,889	1,737	1,372	1,346	2,704	2,525	2,373	721	3,283	3,201	1,435	1,490	3,215	3,719	1,137
Capital expenditure	101	109	86.0	98.0	75.0	88.0	92.0	71.0	94.0	130	146	77.0	76.0	121	64.0	64.0	73.0	107	76.0	68.0
Free cash flow	178	1,586	2,598	-96.0	2,098	2,801	1,645	1,301	1,252	2,574	2,379	2,296	645	3,162	3,137	1,371	1,417	3,108	3,643	1,069
Buybacks	4.0	1,049	1,239	1,990	2,343	2,150	3,099	2,640	2,488	1,856	1,662	1,764	1,227	2,170	1,498	653	2,119	3,770	3,988	2,142
Dividends paid	n/a	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	299	295	291	289	319	312	310	307	343	321	314
Shares outstanding	1,022m	1,016m	993m	970m	941m	923m	892m	872m	854m	848m	838m	827m	820m	814m	810m	806m	792m	775m	751m	744m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 31 March 2026, filed 28 April 2026: the filing.