More from BKNG Q2 2026

Booking Holdings Inc.

BKNG2026 Q2Consumer

1mo

Financial Performance Summary

Adjusted EBITDA was approximately $2.6 billion, up 9% year-over-year and above the high end of guidance; adjusted EBITDA margin expanded nearly 40 basis points.
Adjusted EPS was $2.54 per share, up 15% year-over-year (faster than adjusted EBITDA growth) helped by a 6% reduction in average share count.
Capital returns remained strong: returned $4.1 billion to shareholders in the quarter (including $3.7 billion of share repurchases), and free cash flow was $3.6 billion.
Exceeded the high end of guidance across key second-quarter financial metrics, with room nights, gross bookings, revenue, and adjusted EBITDA all ahead of expectations.
Gross bookings increased 9% year-over-year (approximately 8% on a constant-currency basis), exceeding the high end of guidance by about 3 percentage points.
Revenue grew 8% year-over-year (approximately 7% constant currency), with growth lower than gross bookings due to elevated cancellations in March affecting second-quarter revenue.
Room nights grew 5% year-over-year, about 1 percentage point above the high end of guidance.

Booking Holdings Inc.

BKNG2026 Q2Consumer

1mo

So if we look at the traffic we're currently receiving from large language models -- so this is not what we are receiving directly in terms of traffic, but from large language models, both on a paid and an unpaid basis that is still significantly below 1% of our room nights.

Ewout Steenbergen

Context

In response to questions about AI-driven traffic and whether AI search is shifting where bookings come from, management quantified LLM traffic contribution. Management said LLM traffic contribution is still significantly below 1% of room nights. They added that it has not materially changed over recent months/quarters. They described paid traffic as coming partly from being a test group for OpenAI for CPC, and characterized management’s ongoing focus as diversifying channels while keeping direct traffic via AI tools in their own environment.

Booking Holdings Inc.

BKNG2026 Q2Consumer

1mo

Room nights up 5%

Room night growth exceeded guidance high end by ~1 percentage point

Management reported room nights grew 5% year-over-year and were about 1 percentage point above the high end of guidance.

More from BKNG Q2 2026

Booking Holdings Inc.

BKNG2026 Q2Consumer

1mo

Financial Performance Summary

Adjusted EBITDA was approximately $2.6 billion, up 9% year-over-year and above the high end of guidance; adjusted EBITDA margin expanded nearly 40 basis points.
Adjusted EPS was $2.54 per share, up 15% year-over-year (faster than adjusted EBITDA growth) helped by a 6% reduction in average share count.
Capital returns remained strong: returned $4.1 billion to shareholders in the quarter (including $3.7 billion of share repurchases), and free cash flow was $3.6 billion.
Exceeded the high end of guidance across key second-quarter financial metrics, with room nights, gross bookings, revenue, and adjusted EBITDA all ahead of expectations.
Gross bookings increased 9% year-over-year (approximately 8% on a constant-currency basis), exceeding the high end of guidance by about 3 percentage points.
Revenue grew 8% year-over-year (approximately 7% constant currency), with growth lower than gross bookings due to elevated cancellations in March affecting second-quarter revenue.
Room nights grew 5% year-over-year, about 1 percentage point above the high end of guidance.