Equity Profile

BKNG

Booking Holdings Inc.

Consumer DiscretionaryHotels, Resorts & Cruise Lines$128.5B

Apr28Tue

Post-Earnings Recap

ReportedQ1-2026After Close5:12 PM EDT

Booking Holdings Beats on EPS, Stock Down 2.33%

Metric	Actual	Expected	Surprise
EPS	$1.36	$1.07	+23.19%
Revenue	N/A	$5.5B	N/A

management commentary, guidance changes, and full analysis available with Pro.

Booking Holdings Beats on EPS, Stock Down 2.33%

Key Numbers

Metric	Actual	Expected	Surprise
EPS	$1.36	$1.07	+23.19%
Revenue	N/A	$5.5B	N/A

Management Commentary

Tone: Cautiously Optimistic

Overall, management expressed cautious optimism about future demand in the travel sector. They acknowledged some market challenges but are focused on growth strategies.

Management highlighted strong demand trends in travel bookings.

They noted ongoing challenges in certain markets but remain focused on long-term growth.

The company emphasized its commitment to enhancing customer experience.

What It Means

Booking Holdings reported better-than-expected earnings per share, which indicates stronger profitability than analysts anticipated. However, the stock fell by 2.33% in reaction, likely due to the lack of revenue data and guidance. Investors may be concerned about the challenges mentioned by management in certain markets, which could impact future performance.

Company Snapshot

Booking Holdings Inc. is a leading player in the travel and hospitality sector, primarily operating online travel agencies that facilitate hotel bookings, vacation rentals, and travel services....

Key Metrics to Watch

EPS

Earnings per share is a critical measure of profitability, indicating how much money the company makes for each share of stock.

$1.07

Revenue

Revenue figures provide insight into the company's overall sales performance and market demand for its services.

$5.5B

Wall Street expectations, options signals, track record, and call prep available with Pro.

Original Pre-Earnings Preview

Context

Company Snapshot

Booking Holdings Inc. is a leading player in the travel and hospitality sector, primarily operating online travel agencies that facilitate hotel bookings, vacation rentals, and travel services. As consumer spending on travel continues to rebound post-pandemic, the company's performance is closely tied to trends in tourism and travel demand.

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

100%

Avg EPS Surprise

+14.23%

Avg Stock Reaction

-0.66%

Last Quarter Recap

In the last quarter, Booking Holdings reported an EPS of $48.80, slightly beating expectations. The stock reacted positively, gaining 3.14% the following day.

Management Promises & Guidance

Expectations

Wall Street Expectations

Analysts are generally optimistic about Booking Holdings' upcoming earnings, expecting a modest EPS of $1.07 and revenue of $5.5 billion. The company has consistently beaten earnings expectations in the past.

Bull Case

If the company can leverage strong travel demand and improve its margins, it could report better-than-expected earnings and revenue, driving the stock higher.

Bear Case

Conversely, if travel demand weakens or operational costs rise unexpectedly, the company may fall short of expectations, leading to a negative market reaction.

Key Metrics to Watch

EPS

$1.07

Earnings per share is a critical measure of profitability, indicating how much money the company makes for each share of stock.

Revenue

$5.5B

Revenue figures provide insight into the company's overall sales performance and market demand for its services.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will the EPS exceed the consensus estimate of $1.07?

A beat on EPS could reinforce investor confidence and lead to a positive stock reaction, especially given the company's history of exceeding expectations.

What commentary will management provide on travel demand and revenue growth?

Insights into current travel trends and revenue projections will be crucial for assessing the company's future performance and market positioning.

Edge

What the Street Is Missing

Why consensus could be wrong

The consensus may underestimate the impact of pent-up travel demand, which could drive higher-than-expected revenue growth this quarter.

Supporting Evidence

Booking Holdings has consistently beaten EPS estimates, suggesting a strong operational performance.

The options market is pricing a larger move than historical averages, indicating potential for significant surprises.

Key Risk

If travel demand shows unexpected strength, it could lead to a significant upside surprise.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance will hinge on the balance between strong travel demand and potential cost pressures.

Bull Confirmed If

An EPS of $1.15 or higher, along with strong revenue growth, would confirm the bull case.

Bear Confirmed If

An EPS below $1.00 would confirm the bear case.

Pre-Earnings Positioning

Options Market

Implied Move

±6.2%

Historical Avg

±1.7%

Pricing rich

The options market is pricing in a significant move of 6.2%, suggesting that traders anticipate volatility around the earnings announcement.

Options are pricing ±6.7% while BKNG has averaged ±1.7% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

1.5%

30d HV

40.4%

Calls (546K)P/C Ratio: 1.19Puts (869K)

Edge

Insider Activity

Open-market trades by officers, directors, and 10%+ holders over the trailing 90 days.

Bought

$0.00

0 sh

0 insiders

Sold

$3.3M

17,851 sh

2 insiders

Net

$3.3M

Net selling

Most Active Insiders· 5 open-market trades

CEO AND PRESIDENTFogel Glenn D
$3.1M
Net selling

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Booking Holdings beats expectations, history suggests a potential average one-day move of +1.66%, confirming the bullish sentiment.

In-Line / Cautious

If results are in line with expectations, the stock may see muted movement as investors await further guidance.

Miss

A miss could lead to a decline, with historical patterns indicating an average one-day move of -0.16% when expectations are not met.

Preparation

Congressional Activity

House & Senate STOCK Act disclosures over the trailing 6 months.

Trades

2 buys·1 sell

Members

House only

Est. Notional

$3,003.00–$45,000.00

disclosed dollar ranges

Most Active Members

D-CAGilbert CisnerosRep.
3

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on travel demand trends and how they are impacting bookings.
2Management's outlook on revenue growth for the upcoming quarters.
3Details on cost management strategies and their impact on margins.
4Insights into competitive positioning against other travel platforms.
5Any commentary on international travel recovery and its effects on revenue.

See the full picture

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Company Snapshot

Booking Holdings Inc. is a leading player in the travel and hospitality sector, primarily operating online travel agencies that facilitate hotel bookings, vacation rentals, and travel services....

Key Metrics to Watch

EPS

Earnings per share is a critical measure of profitability, indicating how much money the company makes for each share of stock.

$1.07

Revenue

Revenue figures provide insight into the company's overall sales performance and market demand for its services.

$5.5B

Wall Street expectations, options signals, track record, and call prep available with Pro.

Original Pre-Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

100%

Avg EPS Surprise

+14.23%

Avg Stock Reaction

-0.66%

Last Quarter Recap

In the last quarter, Booking Holdings reported an EPS of $48.80, slightly beating expectations. The stock reacted positively, gaining 3.14% the following day.

Management Promises & Guidance

Expectations

Wall Street Expectations

Bull Case

If the company can leverage strong travel demand and improve its margins, it could report better-than-expected earnings and revenue, driving the stock higher.

Bear Case

Conversely, if travel demand weakens or operational costs rise unexpectedly, the company may fall short of expectations, leading to a negative market reaction.

Key Metrics to Watch

EPS

$1.07

Earnings per share is a critical measure of profitability, indicating how much money the company makes for each share of stock.

Revenue

$5.5B

Revenue figures provide insight into the company's overall sales performance and market demand for its services.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will the EPS exceed the consensus estimate of $1.07?

A beat on EPS could reinforce investor confidence and lead to a positive stock reaction, especially given the company's history of exceeding expectations.

What commentary will management provide on travel demand and revenue growth?

Insights into current travel trends and revenue projections will be crucial for assessing the company's future performance and market positioning.

Edge

What the Street Is Missing

Why consensus could be wrong

The consensus may underestimate the impact of pent-up travel demand, which could drive higher-than-expected revenue growth this quarter.

Supporting Evidence

Booking Holdings has consistently beaten EPS estimates, suggesting a strong operational performance.

The options market is pricing a larger move than historical averages, indicating potential for significant surprises.

Key Risk

If travel demand shows unexpected strength, it could lead to a significant upside surprise.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance will hinge on the balance between strong travel demand and potential cost pressures.

Bull Confirmed If

An EPS of $1.15 or higher, along with strong revenue growth, would confirm the bull case.

Bear Confirmed If

An EPS below $1.00 would confirm the bear case.

Pre-Earnings Positioning

Options Market

Implied Move

±6.2%

Historical Avg

±1.7%

Pricing rich

The options market is pricing in a significant move of 6.2%, suggesting that traders anticipate volatility around the earnings announcement.

Options are pricing ±6.7% while BKNG has averaged ±1.7% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

1.5%

30d HV

40.4%

Calls (546K)P/C Ratio: 1.19Puts (869K)

Edge

Insider Activity

Open-market trades by officers, directors, and 10%+ holders over the trailing 90 days.

Bought

$0.00

0 sh

0 insiders

Sold

$3.3M

17,851 sh

2 insiders

Net

$3.3M

Net selling

Most Active Insiders· 5 open-market trades

CEO AND PRESIDENTFogel Glenn D
$3.1M
Net selling

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Booking Holdings beats expectations, history suggests a potential average one-day move of +1.66%, confirming the bullish sentiment.

In-Line / Cautious

If results are in line with expectations, the stock may see muted movement as investors await further guidance.

Miss

A miss could lead to a decline, with historical patterns indicating an average one-day move of -0.16% when expectations are not met.

Preparation

Congressional Activity

House & Senate STOCK Act disclosures over the trailing 6 months.

Trades

2 buys·1 sell

Members

House only

Est. Notional

$3,003.00–$45,000.00

disclosed dollar ranges

Most Active Members

D-CAGilbert CisnerosRep.
3

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on travel demand trends and how they are impacting bookings.
2Management's outlook on revenue growth for the upcoming quarters.
3Details on cost management strategies and their impact on margins.
4Insights into competitive positioning against other travel platforms.
5Any commentary on international travel recovery and its effects on revenue.