Booking Holdings Announces 25-for-1 Split After Q4 EPS $48.80 on $6.35B
Booking Holdings announced a 25-for-1 stock split effective April 2, reducing its share price from over $3,900 to roughly $165 and enhancing retail access. The company reported Q4 EPS of $48.80 on $6.35 billion revenue, up 17% and 16% year-over-year, and guided revenue growth of 14–16%.
1. Stock Split Details
The board approved a 25-for-1 stock split effective April 2, which will reduce the share price from above $3,900 to roughly $165. This move aims to lower the barrier to entry for retail investors and increase trading liquidity.
2. Q4 2025 Financial Performance
Booking delivered EPS of $48.80 on $6.35 billion in revenue, marking 17% and 16% year-over-year growth respectively. Room nights increased 9% and gross bookings rose 16% to $43 billion, while first-quarter revenue is guided at 14–16% growth and adjusted EBITDA at 10–14%.
3. Market Reaction and AI Concerns
Shares dropped 8.7% at open following the earnings release, extending a 26.5% year-to-date decline toward a 52-week low. Investors cited risks of AI disintermediation by big tech and higher marketing spend to maintain online visibility.
4. Analyst Sentiment and Institutional Flows
Institutional buying reached $28 billion net, reversing prior selling trends by nearly a 3:1 ratio. Although many analysts lowered price targets below the $6,000 consensus, that level remains over 50% above the current price, suggesting room for upside.