Expedia Group, Inc. Earnings Recaps
Q2 2026
Aug 7, 2026
Shares declined 1.8% following Expedia's Q2 report as investor confidence was tempered by Europe’s continued travel weakness and modest incremental demand from the World Cup, despite margin expansion and a raised full-year outlook.
Key takeaways
- Booked room nights rose 6%, driven by mid-single digit growth in the U.S., low single digits in EMEA, and low double digits in the rest of the world; Europe remained pressured by macro headwinds and reduced air capacity.
- Consumer bookings grew 8%, led by strongest U.S. growth in 15 quarters.
- Adjusted EBITDA margins expanded nearly two points due to tight expense management and marketing leverage.
- B2B segment maintained momentum with 20 consecutive quarters of double-digit growth.
- Management raised full-year guidance based on H1 results and ongoing trends.
Q1 2026
May 8, 2026
Expedia’s shares dropped 6.8% after the quarter, reflecting investor concerns about incipient deceleration and cautious commentary on macro headwinds despite solid execution earlier in the quarter and margin expansion.
Key takeaways
- Bookings grew 13% and revenue increased 15% year-over-year, but growth slowed noticeably in March due to geopolitical tensions and travel advisories.
- First quarter margin expanded by nearly 6 points, reaching the highest Q1 level in 15 years, driven by ongoing operational efficiencies.
- Domestic U.S. room nights held steady, but softness in Mexico and reduced promotional activity from some B2B partners limited upside.
- AI investments are highlighted as a future growth lever, improving personalization, supply onboarding, and customer service automation, though impact on bookings remains nascent.
- Mid- and higher-tier loyalty member growth signals potential customer quality improvement but was not enough to offset near-term macro risks in the outlook.
Q3 2025
Nov 7, 2025
Expedia Group's Q3 2025 results surpassed expectations with a 12% increase in bookings and a 9% rise in revenue, driven by strong demand and disciplined execution across its strategic priorities.
Key takeaways
- Booked room nights increased 11%, with significant growth in B2B bookings, up 26%, marking 17 consecutive quarters of double-digit growth.
- Positive shifts in the U.S. market and high double-digit growth in EMEA and Asia demonstrate strong consumer demand.
- Continued enhancements in traveler experience through AI integration and improved loyalty programs resulted in double-digit growth in vacation rentals.
- The company is raising its full-year guidance based on current trends and robust performance across its brands, particularly Expedia and Vrbo.
- Strong advertising performance, with a record number of active partners, shows effective monetization strategies and AI-driven improvements in targeting.