Booking Holdings Reports 26.7% Growth in Merchant Revenue, Reaching $3.70 Billion in Q1 2026
💰 For Q1 2026, Booking Holdings reported $3.70 billion in merchant revenue, up 26.7% from last year, while agency revenue fell 2.3% to $1.53 billion. Merchant bookings now represent 72% of total bookings. Deferred merchant bookings rose to $8.2 billion by March 31, 2026, up from $6.9 billion a year earlier. The payment method significantly impacts cash flow, with $1.9 billion of $3.1 billion in free cash flow coming from working capital changes. Payment options vary, affecting the timing and cost of payouts.
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