EXPE Expedia Group (EXPE) Q1 FY25 earnings call
Expedia Group navigated a soft U.S. travel demand environment in Q1 FY25, delivering strong bottom-line growth driven by robust B2B and Advertising segment performance and disciplined cost management. The company continues to focus on strategic priorities including enhancing traveler value, investing in high-growth areas, and driving operational efficiencies, with AI amplifying these efforts. Management raised its full-year EBITDA margin expansion guidance, reflecting confidence in ongoing cost controls.
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EXPE operating KPIs by quarter
| KPI | Dec 2024 Q4 FY24 | This call Mar 2025 Q1 FY25 | Jun 2025 Q2 FY25 | Sep 2025 Q3 FY25 | Dec 2025 Q4 FY25 | Mar 2026 Q1 FY26 | Change vs prior quarter |
|---|---|---|---|---|---|---|---|
| Gross bookings | $24.4BTotal gross bookings of $24.4 billion grew 13% with a 5-point sequential acceleration in both B2C and B2B with a better-than-expected demand environment and strong operational execution.Source: earnings call transcript | $31.5BTotal gross bookings of $31.5 billion were up 4%.Source: earnings call transcript | $30.4BGross bookings were $30.4 billion, up 5%, which includes a 1 point benefit from foreign exchange.Source: earnings call transcript | $30.7BGross bookings were $30.7 billion, up 12%, including a 1 point benefit from foreign exchange.Source: earnings call transcript | $27BGross bookings and revenue grew 11% to $27 billion and $3.5 billion, respectively.Source: earnings call transcript | $35.5BGross bookings were 35.5 billion, up 13%, driven by 6% room night growth and 4% ADR growth on an FX-neutral basis.Source: earnings call transcript | +31.5% |
| Average daily rate (ADR) | — | $214Average daily rates were $214, down 1%, although up 1% on an FX-neutral basis.Source: earnings call transcript | $209ADRs of $209 were essentially flat with prior year.Source: earnings call transcript | — | — | — | -2.3% |
| Gross bookings B2C | — | $22.6BB2C gross bookings of $22.6 billion grew 1%.Source: earnings call transcript | $21.6BB2C gross bookings of $21.6 billion increased 1% year-over-year.Source: earnings call transcript | $21.3BB2C gross bookings of $21.3 billion accelerated 6 points to 7% year-over-year, driven by performance both domestically and internationally.Source: earnings call transcript | $18.3BB2C gross bookings of $18.3 billion grew 5%, driven by sustained momentum both domestically and internationally.Source: earnings call transcript | $24.8BConsumer gross bookings of 24.8 billion grew 10%, driven by sustained momentum in the US and continued momentum in Vrbo.Source: earnings call transcript | +35.5% |
| Gross bookings B2B | — | $8.8BB2B gross bookings of $8.8 billion grew 14%, materially above the market, although decelerating sequentially.Source: earnings call transcript | $8.8BB2B gross bookings were $8.8 billion, up 17%.Source: earnings call transcript | $9.4BB2B gross bookings were $9.4 billion or 26% with broad-based growth across all regions.Source: earnings call transcript | $8.7BB2B gross bookings grew 24% to $8.7 billion, with continued double-digit growth across all regions.Source: earnings call transcript | $10.7BB2B gross bookings grew 22% to $10.7 billion, led by an acceleration in North America and double-digit growth across all core regions.Source: earnings call transcript | +23% |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Inve summary of the company's earnings call; see how call summaries are prepared. Not investment advice.