Booking Holdings reported second-quarter 2025 earnings of $55.4 per share, beating the Zacks Consensus Estimate by 8.82%. The figure increased 32.2% year over year. Revenues of $6.8 billion beat the Zacks Consensus Estimate by 3.56% and increased 16% year over year and about 12% on a constant-currency (cc) basis. The rally exceeded the high end of company guidance by 4 percentage points, driven by higher revenues from facilitating payments and lower merchandising spend. FX favorably impacted growth rates by roughly four percentage points. Revenues as a percentage of gross bookings of 14.5% were up about 40 basis points year over year, fueled by the timing impact from the Easter calendar shift and higher revenues from payments. In the second quarter of 2025, BKNG benefited from expanding alternative accommodations, enhancing Genius loyalty, advancing AI and Connected Trip initiatives, and driving superior traveler experiences and incremental demand for partners.