Direct Answer
Booking Holdings reports revenue across 3 product and service lines in its fiscal 2025 Form 10-K. Merchant Revenue is the largest, with $17.8 billion of revenue (66% of the total), followed by Agency Revenue at $8.0 billion (30%).
How Does Booking Holdings Make Money?
Merchant Revenue supplies 66% of revenue, so Booking Holdings's results move mostly with that one business; the others matter more for diversification than for the headline number. Between fiscal 2024 and 2025, Merchant Revenue grew fastest (+25.5%) and Agency Revenue slowest (-6.5%), so the revenue mix tilts toward Merchant Revenue while that gap lasts.
| Product or service | FY2025 revenue | FY2024 revenue | Share of revenue | Change |
|---|---|---|---|---|
| Merchant Revenue | $17.8 billion | $14.1 billion | 66.0% | 25.5% |
| Agency Revenue | $8.0 billion | $8.5 billion | 29.6% | -6.5% |
| Advertisingandotherrevenues | $1.2 billion | $1.1 billion | 4.4% | 11.3% |
What the Segment Figures Do Not Show
The rows above add up to 100% of Booking Holdings's reported revenue for fiscal 2025; the difference is intersegment eliminations, corporate revenue or items the company reports outside its segments. Segment definitions are management's choice and change when a company reorganizes, in which case it restates prior years in the next filing, so a multi-year comparison should use the figures from a single filing. Revenue shows where sales come from, not where profit or cash is earned: a small segment can carry most of the margin.
Where These Numbers Come From
Every figure on this page is a value Booking Holdings reported in the segment note and revenue disclosures of its Form 10-K filed February 18, 2026 (accession 0001075531-26-000009), read from the SEC's Financial Statement Data Sets. The prior-year column is the comparative figure from that same filing, so it reflects any restatement for a change in segments. Category names are the company's own XBRL labels, lightly reformatted for reading.
Rows that only total other rows (for example a "Products" line beside the individual products) are left out so nothing is counted twice. This page is educational and describes reported history for fiscal 2025; it is not a forecast or a recommendation.
Frequently Asked Questions
What are Booking Holdings's main products and services?
In its fiscal 2025 Form 10-K, Booking Holdings reports revenue for Merchant Revenue, Agency Revenue and Advertisingandotherrevenues.
Which part of Booking Holdings brings in the most revenue?
Merchant Revenue, with $17.8 billion of revenue in fiscal 2025, or 66% of the total.
Where does Booking Holdings report its segment results?
In the segment note to the financial statements in its Form 10-K, most recently filed February 18, 2026, alongside management's discussion of each segment's results.