Filing Flows › Booking Holdings (BKNG) › Q2 2026 › vs Q2 2025
Booking Holdings (BKNG) Q2 2026 vs Q2 2025 (year over year)
Booking Holdings's revenue rose $554M (+8%) from $6.8B in Q2 2025 to $7.4B in Q2 2026. The biggest changes: Merchant revenues +$670M (+15%); Agency revenues −$141M (-7%); Advertising and other revenues +$25.0M (+8%). Operating margin 34.0% against 33.1% (+0.9 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 Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Operating margin | 34.0% | 33.1% | +0.9 pts |
| Net margin | 26.5% | 13.2% | +13.4 pts |
| Free cash flow margin | 49.6% | 46.1% | +3.4 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Merchant revenues | $5.1B | $4.5B | $670M | +15% |
| Agency revenues | $1.9B | $2.0B | −$141M | -7% |
| Advertising and other revenues | $322M | $297M | $25.0M | +8% |
| Revenue | $7.4B | $6.8B | $554M | +8% |
| Other income, net | $60.0M | −$1.1B | $1.2B | — |
| Operating profit | $2.5B | $2.2B | $250M | +11% |
| Costs & expenses | $4.9B | $4.5B | $304M | +7% |
| Pre-tax earnings | $2.6B | $1.1B | $1.5B | +132% |
| General & admin | $217M | $199M | $18.0M | +9% |
| Other operating costs | $4.6B | $4.3B | $286M | +7% |
| Net earnings | $1.9B | $895M | $1.1B | +118% |
| Income tax | $610M | $209M | $401M | +192% |
| Depreciation & amortization | $129M | $158M | −$29.0M | -18% |
| Share-based compensation | $140M | $154M | −$14.0M | -9% |
| Working capital & other | $1.5B | $2.0B | −$494M | -25% |
| Operating cash flow | $3.7B | $3.2B | $518M | +16% |
| Free cash flow (OCF − capex) | $3.6B | $3.1B | $506M | +16% |
| Capital expenditures | $76.0M | $64.0M | $12.0M | +19% |
Questions
How much did Booking Holdings's revenue grow year over year in Q2 2026?
Booking Holdings's revenue rose $554M (+8%) from $6.8B in Q2 2025 to $7.4B in Q2 2026.
What drove Booking Holdings's revenue change in Q2 2026?
Merchant revenues +$670M (+15%); Agency revenues −$141M (-7%); Advertising and other revenues +$25.0M (+8%).