BKNG Booking Holdings (BKNG) Q4 FY25 earnings call
Booking Holdings delivered a strong Q4 FY25, exceeding expectations with robust room night and gross bookings growth, driven by resilient travel demand and strategic investments. The company continues to prioritize AI innovation, its Connected Trip vision, and growth in Asia and the US, while leveraging its Transformation Program for significant cost savings. Looking ahead, Booking Holdings aims for accelerated top-line growth and continued margin expansion in 2026, supported by strategic reinvestments and a commitment to shareholder returns.
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BKNG operating KPIs by quarter
| KPI | Dec 2024 Q4 FY24 | Jun 2025 Q2 FY25 | Sep 2025 Q3 FY25 | This call Dec 2025 Q4 FY25 | Mar 2026 Q1 FY26 | Change vs prior quarter |
|---|---|---|---|---|---|---|
| Properties Alternative Accommodations | 7.9MFor alternative accommodations at Booking.com, we continue to see year-over-year growth with listings at the end of Q4, reaching 7.9 million, up about 8% from last year.Source: earnings call transcript | 8.4MWith Booking.com's alternative accommodation listings reaching 8.4 million, an increase of 8% year-over-year.Source: earnings call transcript | 8.6M+In the most recent quarter, listings grew to over 8.6 million, up approximately 10% year-over-year, with double-digit room night growth.Source: earnings call transcript | 8.6MWe're now at 8.6 million listings.Source: earnings call transcript | — | — |
| Room nights booked | — | 309MRoom nights reached 309 million, an 8% year-over-year increase exceeding the high end of our prior expectations, driven by strong performance across Europe and Asia.Source: earnings call transcript | 323MOur third quarter room nights reached 323 million, an 8% year-over-year increase.Source: earnings call transcript | 285MOur fourth quarter room nights reached $285 million, a 9% year-over-year increase.Source: earnings call transcript | 338MWe booked 338 million room nights, which was in line with our prior expectations and represented 6% year-over-year growth.Source: earnings call transcript | +18.6% |
| Airline tickets booked | — | 16M+We achieved another quarter of healthy growth across our other travel verticals, as Glenn mentioned, during the second quarter, over 16 million airline tickets were booked across our platforms, representing an increase of 44% year-over-year.Source: earnings call transcript | 17M+During the third quarter, over 17 million airline tickets were booked across our platforms, representing an increase of 32% year-over-year, driven by the continued growth of our flight offerings at Booking.com and Agoda.Source: earnings call transcript | — | — | — |
| Gross bookings | — | — | $50BGross bookings of $50 billion increased 14% year-over-year or about 10% on a constant currency basis.Source: earnings call transcript | — | $53.8BOn a year-over-year basis, first quarter gross bookings of $53.8 billion grew 15%.Source: earnings call transcript | — |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Inve summary of the company's earnings call; see how call summaries are prepared. Not investment advice.