Filing Flows › Booking Holdings (BKNG) › Q2 2026 › vs Q1 2026
Booking Holdings (BKNG) Q2 2026 vs Q1 2026 (quarter over quarter)
Booking Holdings's revenue rose $1.8B (+33%) from $5.5B in Q1 2026 to $7.4B in Q2 2026. The biggest changes: Merchant revenues +$1.4B (+39%); Agency revenues +$375M (+25%); Advertising and other revenues +$16.0M (+5%). Operating margin 34.0% against 23.0% (+11.0 pts).
Booking Holdings, Q2 2026: revenue $7.4B (+8% year over year), operating margin 34.0%, net earnings $1.9B, operating cash flow $3.7B. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Operating margin | 34.0% | 23.0% | +11.0 pts |
| Net margin | 26.5% | 19.6% | +6.9 pts |
| Free cash flow margin | 49.6% | 56.2% | -6.6 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Merchant revenues | $5.1B | $3.7B | $1.4B | +39% |
| Agency revenues | $1.9B | $1.5B | $375M | +25% |
| Advertising and other revenues | $322M | $306M | $16.0M | +5% |
| Revenue | $7.4B | $5.5B | $1.8B | +33% |
| Other income, net | $60.0M | $128M | −$68.0M | -53% |
| Operating profit | $2.5B | $1.3B | $1.2B | +97% |
| Costs & expenses | $4.9B | $4.3B | $591M | +14% |
| Pre-tax earnings | $2.6B | $1.4B | $1.2B | +83% |
| General & admin | $217M | $100M | $117M | +117% |
| Other operating costs | $4.6B | $4.2B | $474M | +11% |
| Net earnings | $1.9B | $1.1B | $867M | +80% |
| Income tax | $610M | $316M | $294M | +93% |
| Depreciation & amortization | $129M | $131M | −$2.0M | -2% |
| Share-based compensation | $140M | $141M | −$1.0M | -0.7% |
| Working capital & other | $1.5B | $1.9B | −$360M | -19% |
| Operating cash flow | $3.7B | $3.2B | $504M | +16% |
| Free cash flow (OCF − capex) | $3.6B | $3.1B | $535M | +17% |
| Capital expenditures | $76.0M | $107M | −$31.0M | -29% |
Questions
How much did Booking Holdings's revenue grow quarter over quarter in Q2 2026?
Booking Holdings's revenue rose $1.8B (+33%) from $5.5B in Q1 2026 to $7.4B in Q2 2026.
What drove Booking Holdings's revenue change in Q2 2026?
Merchant revenues +$1.4B (+39%); Agency revenues +$375M (+25%); Advertising and other revenues +$16.0M (+5%).