Booking Holdings said global room nights for Q1 2025 increased 7% year-over-year, driven primarily by increased travel demand in Europe and Asia. The company added that flight gross bookings for the quarter increased 30% year-over-year.

10-QQuarterly reportFiled Apr 29, 2025Period of report Mar 31, 2025Summary published (UTC) Oct 10, 2026

Key points

AI summary

Booking Holdings said global room nights for Q1 2025 increased 7% year-over-year, driven primarily by increased travel demand in Europe and Asia. The company added that flight gross bookings for the quarter increased 30% year-over-year.
Booking Holdings said total marketing expenses for Q1 2025 were $1.8 billion, up 10% versus the prior-year quarter. It cited lower performance marketing ROIs and increased spend in social media channels as factors for the higher marketing expenses as a percentage of total gross bookings compared to the prior-year quarter.
Booking Holdings said personnel expenses for Q1 2025 decreased year-over-year primarily due to a $170 million reduction in the accrual related to the Netherlands pension fund matter. The company said employee headcount increased to 24,500 employees from approximately 24,000 as of the prior year, a 2% increase.
Booking Holdings said operating cash flow for Q1 2025 consisted of net income of $333 million, non-cash adjustments of $899 million, and net changes in working capital and other items of $2.1 billion. The company said financing activities included share repurchases of $2.2 billion, debt repayment of $1.5 billion, and dividends of $319 million.

Key figures

Quarter ended March 31, 2025

Revenue: $4.8B
Operating income: $1.1B
EPS: $10.07
Operating cash flow: $3.3B

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Q1 2025 Room Nights Up 7% and Flight Gross Bookings Up 30%

Booking Holdings said global room nights for Q1 2025 increased 7% year-over-year, driven primarily by increased travel demand in Europe and Asia. The company added that flight gross bookings for the quarter increased 30% year-over-year.

Source · Based on the MD&A text of the filing

Marketing Expenses $1.8 billion and Ratio to Total Gross Bookings

Booking Holdings said total marketing expenses for Q1 2025 were $1.8 billion, up 10% versus the prior-year quarter. It cited lower performance marketing ROIs and increased spend in social media channels as factors for the higher marketing expenses as a percentage of total gross bookings compared to the prior-year quarter.

Source · Based on the MD&A text of the filing

Netherlands Pension Fund Accrual Reduction of $170 million

Booking Holdings said personnel expenses for Q1 2025 decreased year-over-year primarily due to a $170 million reduction in the accrual related to the Netherlands pension fund matter. The company said employee headcount increased to 24,500 employees from approximately 24,000 as of the prior year, a 2% increase.

Source · Based on the MD&A text of the filing

Q1 2025 Operating Cash Flow Components and Financing Activities

Booking Holdings said operating cash flow for Q1 2025 consisted of net income of $333 million, non-cash adjustments of $899 million, and net changes in working capital and other items of $2.1 billion. The company said financing activities included share repurchases of $2.2 billion, debt repayment of $1.5 billion, and dividends of $319 million.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗

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