Core Viewpoint - The article discusses the preference for Booking (BKNG) over Expedia (EXPE) due to Booking's greater international selection and overall user experience in travel planning [1]. Group 1: Company Analysis - Booking (BKNG) is favored for its extensive international offerings, which enhances the travel experience for users [1]. - Expedia (EXPE) is mentioned as a competitor but does not match the selection provided by Booking [1]. Group 2: Analyst Background - The author has over 35 years of experience in the investment field, including roles as a sell-side and buy-side analyst, as well as a portfolio manager for debt and equity funds [1]. - The focus is on providing fundamental analysis of companies and funds, with an emphasis on financial statements and their implications [1].

Fourth quarter room night growth of 9% exceeded expectations, fueled by resilient travel demand and strategic investments in the U.S. and Asia markets. Management attributed significant margin expansion to the Transformation Program, which achieved a $550 million annual run rate savings target by the end of 2025. The Connected Trip strategy continues to gain traction, with multi-vertical transactions growing in the high 20% range as flights serve as a critical customer acquisition funnel. The Genius ...

Online travel agency Booking Holdings (NASDAQ: BKNG) has long been one of the priciest stocks on the market. The parent company of Booking.com, Priceline, Kayak, and OpenTable, was trading for more than $4,200 per share as of the market close on Wednesday -- but that's all about to change. In conjunction with its fourth-quarter financial report, Booking announced plans for its first-ever forward stock split. Here's what investors need to know. Will AI create the world's first trillionaire? Our team just r ...

Core Viewpoint - Booking Holdings Inc. experienced a decline in stock price following multiple analyst firms lowering their price forecasts due to concerns over artificial intelligence potentially disrupting the traditional online travel agency model and affecting long-term growth [1] Earnings Performance - The company reported quarterly earnings of $48.80 per share, surpassing the analyst consensus estimate of $48.27 per share [2] - Quarterly sales reached $6.349 billion, exceeding the analyst consensus estimate of $6.130 billion [2] - For the first quarter, the company anticipates sales between $5.429 billion and $5.524 billion, compared to market estimates of $5.359 billion [2] Analyst Insights - RBC noted strong results with room nights, bookings, EBITDA, and EPS exceeding expectations, although first-quarter room nights and full-year margin guidance fell short of Street estimates [3] - The analyst highlighted that room nights growth was driven by acceleration in the U.S. and easing concerns over AI disruption, with loyalty and direct bookings remaining robust [3] - Nearly 90% of Booking.com room nights are non-chain, which limits aggregation risk [3] Management Commentary - Management's focus on search and merchant-of-record strengths is seen as constructive, despite a $700 million reinvestment impacting leverage [4] - The analyst from Davidson reiterated the rating based on strong results, indicating upside to guidance and consensus across all key metrics [4] Regional Performance - Room nights accelerated due to broad strength across regions, particularly in Asia and the U.S., with the latter benefiting from a tough comparison and strength in paid channels and B2B [5] - Management's commentary emphasized resilient underlying travel demand, although U.S. average daily rates (ADRs) and length of stay showed slight declines [5] Stock Performance - Booking Holdings shares fell by 8.78% to $3,895.00, marking a new 52-week low according to Benzinga Pro data [6]

Core Insights - Booking Holdings reported Q4 2025 results with revenue of $6.35 billion, a 16% year-over-year increase, but shares fell 8.8% post-earnings due to concerns over future travel demand [1] Financial Performance - Adjusted EPS was $48.80, surpassing the consensus estimate of $48.50 [1] - Free cash flow increased by 120% to $1.42 billion [1] - Room nights grew by 9%, marking the fourth consecutive quarter of acceleration [1] - Adjusted EBITDA margin expanded to 34.6% from 33.8% year-over-year, aided by $550 million in annual savings from a transformation program [1] Future Guidance - For Q1 2026, management guided for room night growth of 5% to 7% and constant-currency revenue growth of 7% to 9%, a deceleration from the 11% growth in Q4 [1] - The company anticipates high single-digit constant-currency revenue growth and mid-teens adjusted EPS growth for the full year [1] Market Reaction - Despite strong quarterly results, the stock is down 27% year-to-date, reflecting a selloff that began prior to earnings [1] - The forward P/E ratio of 15x indicates expectations for significant earnings growth, but investor concerns about normalizing travel demand are evident [1] Management Commentary - CEO Glenn Fogel highlighted operational strength and long-term positioning, emphasizing double-digit revenue growth and the use of Generative AI to enhance value [1] - The company announced a 25-to-1 stock split effective April 2, 2026, and increased its quarterly dividend to $10.50 per share, a 9.4% rise [1] - $2.1 billion was repurchased in stock during Q4, with $21.8 billion remaining under buyback authorization [1] Analyst Sentiment - 28 analysts rated the stock as a buy or strong buy, while 11 rated it as hold, indicating a generally positive outlook despite current market skepticism [1]

NEW YORK (AP) — U.S. stocks fell Thursday, while oil prices rose with worries about a potential conflict between the United States and Iran. The S&P 500 slipped 0.3% for its first loss in four days. The Dow Jones Industrial Average dropped 267 points, or 0.5%, and the Nasdaq composite slipped 0.3%. Booking Holdings dropped 6.1% for one of the market’s sharper losses, even though the company behind the Booking.com, Priceline and OpenTable brands reported a profit for the latest quarter that edged past a ...

Steenbergen said fourth-quarter room night growth exceeded guidance partly due to continued investments in Asia and the U.S. and an “expanded” booking window. In the U.S., he said Booking saw slightly lower average daily rates and slightly shorter lengths of stay versus the prior year, which he suggested may indicate some consumers remain thoughtful about discretionary spending.Gross bookings and revenue both rose 16% year-over-year, while adjusted EBITDA increased 19% to about $2.2 billion. Adjusted earnin ...

Glenn Fogel: Adjusted EBITDA reached $2,200,000,000. Up 19% from the prior year quarter. Finally, adjusted earnings per share grew 17% year over year. Consistent with our prior earnings guidance, I want to note that FX benefited our fourth quarter growth rates by approximately 500 basis points. For the full year, top line growth metrics are strong with room nights of more than 1,200,000,000, an 8% increase year over year. And gross bookings and revenue growth up 12–13%, respectively. We achieved these top l ...

Booking Holdings (NasdaqGS:BKNG) Q4 2025 Earnings call February 18, 2026 04:30 PM ET Company ParticipantsAlex Brignall - Global Co-Head of ResearchEric Sheridan - Managing DirectorEwout Steenbergen - EVP and CFOGlenn Fogel - CEO and PresidentLee Horowitz - Co-Head of Internet Equity ResearchMark Mahaney - Senior Managing DirectorConference Call ParticipantsLloyd Walmsley - Managing Director and Internet Equity Research AnalystTrevor Young - Director and Senior Internet Equity Research AnalystOperatorLadies ...

Booking Holdings (NasdaqGS:BKNG) Q4 2025 Earnings call February 18, 2026 04:30 PM ET Company ParticipantsAlex Brignall - Global Co-Head of ResearchEric Sheridan - Managing DirectorEwout Steenbergen - EVP and CFOGlenn Fogel - CEO and PresidentLee Horowitz - Co-Head of Internet Equity ResearchMark Mahaney - Senior Managing DirectorConference Call ParticipantsLloyd Walmsley - Managing Director and Internet Equity Research AnalystTrevor Young - Director and Senior Internet Equity Research AnalystOperatorLadies ...