Booking Q3 FY25: where the revenue came from and where it went
The income statement of Booking for this quarter, down to the operating result, as one diagram: what earned the revenue and what it went on. The bottom line is withheld; the note under the table says why.
- Period
- Jul 1 – Sep 30, 2025
- Reported
- Oct 28, 2025
Revenue$9.01B
+13% year over year
Gross profit$6.08B
67% margin
Operating profit$3.48B
39% margin
The numbers
| Item | Value | Share of revenue | Year over year |
|---|---|---|---|
| Revenue | 9.01 | 100% | +13% |
| Merchant | 6.13 | 68% | +23% |
| Agency | 2.57 | 29% | −7% |
| Advertising & other | 0.31 | 3% | +14% |
| Cost of revenue | −2.93 | 33% | |
| Gross profit | 6.08 | 67% margin | −6pp |
| Sales & marketing | −2.34 | 26% | −1pp |
| G&A | −0.25 | 3% | −4pp |
| Operating profit | 3.48 | 39% margin | −1pp |
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