Expedia Group, Inc. Q3 2026 Earnings Recap

Expedia shares fell 13.7% after earnings. Despite raising full-year guidance, the likely concern is that third-quarter room-night growth was only 7%, with low-single-digit growth in EMEA, while the transcript offers no fourth-quarter outlook detail to explain the cut-off in the remarks.

Key Takeaways

• Third-quarter bookings rose 11% and revenue grew 12%; management said margins expanded by more than 1 percentage point.
• Room nights grew 7% overall: mid-single digits in the U.S., low single digits in EMEA, and mid-teens in the rest of the world.
• B2B bookings increased 19%, while consumer bookings rose 7%; Expedia was described as the fastest-growing consumer brand.
• The company raised its full-year guidance, but the provided transcript does not include the specific updated targets or fourth-quarter guidance.
• Management cited efficiency gains, including a Vrbo agentic service experience resolving more than 15% of inbound contacts in its first two months.