Filing Flows › Booking Holdings (BKNG) › Q1 2025
Booking Holdings (BKNG) Q1 2025 earnings results (first quarter 2025)
10-Q filed Apr 29, 2025
Booking Holdings (BKNG) reported revenue of $4.8B for the first quarter 2025 (Q1 2025), +8% from a year earlier and -13% from the quarter before. Operating margin was 22.3%, net earnings $333M (7.0% of revenue).
Booking Holdings, Q1 2025: revenue $4.8B (+8% year over year), operating margin 22.3%, net earnings $333M, operating cash flow $3.3B. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $4.8B | -13% | +8% |
| Operating profit | $1.1B | -39% | +34% |
| Net earnings | $333M | -69% | -57% |
| Operating cash flow | $3.3B | +355% | +21% |
| Free cash flow | $3.2B | +390% | +23% |
What changed
Revenue was $4.8B in Q1 2025, up 8% year over year and down 13% from the previous quarter. Merchant revenues was the largest line at 61% of revenue. Merchant revenues added $0.53B year over year (up 22%), 153% of the total change. Agency revenues declined 11%.
Operating profit was $1.1B, a 22.3% margin (up 4.4 points year over year). Of the extra revenue versus a year earlier, 78% reached operating profit, above the 18% margin then. Total costs grew 2% against revenue growth of 8%. Net earnings were $0.33B, down 57% year over year. The effective tax rate was 15.9%.
Operating cash flow was $3.3B (up 21% year over year), 986% of net earnings. Non-cash charges added back $0.15B of depreciation and amortization and $0.14B of share-based compensation. Working capital and other items added $2.7B. Capital expenditures of $0.12B left free cash flow of $3.2B.
Questions
What was Booking Holdings' revenue in the first quarter 2025?
Booking Holdings (BKNG) reported revenue of $4.8B for the first quarter 2025 (Q1 2025), +8% from a year earlier and -13% from the quarter before.
Was Booking Holdings profitable in the first quarter 2025?
Operating profit was $1.1B (22.3% of revenue) and net earnings $333M.
Source: Booking Holdings 10-Q on SEC EDGAR.