Booking Holdings Inc. reported second-quarter 2026 adjusted earnings of $2.54 per share, topping the Zacks Consensus Estimate of $2.45, and revenues of $7.35 billion, exceeding the estimate of $7.18 billion. Management emphasized resilient domestic travel demand, cost control, and measured AI deployment, while noting the outlook depends on geopolitical stability amid Middle East disruptions. CFO Ewout Steenbergen reported room nights rose 5%, gross bookings increased 9%, revenues advanced 8%, and adjusted EBITDA grew 9%, with the adjusted EBITDA margin reaching 36%, up from 35.6%. The company raised its expected annual run-rate transformation savings target to about $650 million from $550 million, with the additional $100 million coming mainly from procurement and realized primarily in 2027. For the third quarter, Booking guided for room-night growth of 3-5% and gross bookings, revenues, and adjusted EBITDA each expected to rise 4-6%, assuming stable travel conditions while elevated airfares, reduced capacity, and softer long-haul demand persist. For 2026, management expects high-single-digit growth in gross bookings, revenues, and adjusted EBITDA, with adjusted earnings growth in the low-to-mid-teens. Connected Trip transactions grew in the low-double-digit range, and merchant gross bookings reached about 73% of total gross bookings. Higher-tier Genius members represented more than 30% of active customers and a high-