Jun 2026 (Q2 FY26) — Aug 5, 2026
Expedia Group Q2 FY26 — Strong Performance Driven by B2B Momentum and Marketing Leverage
Read the full callExpedia Group (EXPE) earnings
- Jun 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
Expedia Group earnings: last reported Wed, 5 Aug 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 4,315 | +14.0% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 18.5 | +5.7 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 878 | +166.1% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
26 of 26 judged targets kept · 10 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Q2 FY26 EBITDA margin expansion | 50 to 100 basis points | Mar 2026 | Adjusted EBITDA was $1.1 billion in Q2, representing a margin of 25.9%, which is an improvement of nearly 2 points compared to the prior year. | Achieved |
| FY26 full-year EBITDA margin expansion | 100 to 125 basis points | Dec 2025 | We are also raising our margin guidance for the full year and now expect adjusted EBITDA margin expansion of 150 to 175 basis points versus last year. | Revised Up |
| Q3 FY26 adjusted EBITDA margin | 32.5% to 32.8% | Jun 2026 | We expect adjusted EBITDA of $1.51 billion to $1.56 billion, implying a margin of 32.5% to 32.8%. | New |
10 of Expedia Group, Inc.'s 36 targets are still open. See which are on track and which have gone quiet. The 3 above are the free sample; 33 more targets are in the full ledger.
Claimed
- Exceeded top and bottom line expectations for the fifth consecutive quarter, with bookings up 12%, revenue up 14%, and adjusted EBITDA up 23%.
- Market-leading B2B team delivered its 20th consecutive quarter of double-digit growth.
- Adjusted EPS grew 36% year-over-year, reflecting strong earnings and accretive share repurchases.
- Expanded adjusted EBITDA margin by nearly 2 points to 25.9% in Q2 FY26, driven by cost efficiencies and consumer marketing leverage.
- Achieved full coverage of U.S. commercial airlines by becoming the first OTA to distribute Allegiant flights, reinforcing market position.
Qualified
- Europe remained pressured, particularly outbound travel, due to macro headwinds and reduced air capacity weighing on demand, resulting in low single-digit room night growth in EMEA.
- Q3 margin expansion expected to moderate, with adjusted EBITDA margin guided to 32.5% to 32.8%, due to lapping prior year cost actions, ongoing investment in B2B growth, and unfavorable net FX impacts.
- Tougher comparisons in the second half of the year for bookings and room nights growth rates, with Q3 bookings growth guided to 5% to 7%.
Price
$291.72 +0.96% · +$2.77
Performance +35.8% 1Y
1Y: $214.76 on 17 Oct 2025 → $291.72. High $339.13 (24 Aug 2026), low $188.51 (23 Feb 2026).
- Previous close
- $288.95
- 52-week range
- $188.51 – $339.13
- One year
- +33.66%
Overview
- Symbol
- EXPE
- Sector
- Consumer Discretionary
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
26 of 26 judged targets kept · 10 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Q2 FY26 EBITDA margin expansion | 50 to 100 basis points | Mar 2026 | Adjusted EBITDA was $1.1 billion in Q2, representing a margin of 25.9%, which is an improvement of nearly 2 points compared to the prior year. | Achieved |
| FY26 full-year EBITDA margin expansion | 100 to 125 basis points | Dec 2025 | We are also raising our margin guidance for the full year and now expect adjusted EBITDA margin expansion of 150 to 175 basis points versus last year. | Revised Up |
| Q3 FY26 adjusted EBITDA margin | 32.5% to 32.8% | Jun 2026 | We expect adjusted EBITDA of $1.51 billion to $1.56 billion, implying a margin of 32.5% to 32.8%. | New |
Claimed
- Exceeded top and bottom line expectations for the fifth consecutive quarter, with bookings up 12%, revenue up 14%, and adjusted EBITDA up 23%.
- Market-leading B2B team delivered its 20th consecutive quarter of double-digit growth.
- Adjusted EPS grew 36% year-over-year, reflecting strong earnings and accretive share repurchases.
- Expanded adjusted EBITDA margin by nearly 2 points to 25.9% in Q2 FY26, driven by cost efficiencies and consumer marketing leverage.
- Achieved full coverage of U.S. commercial airlines by becoming the first OTA to distribute Allegiant flights, reinforcing market position.
Qualified
- Europe remained pressured, particularly outbound travel, due to macro headwinds and reduced air capacity weighing on demand, resulting in low single-digit room night growth in EMEA.
- Q3 margin expansion expected to moderate, with adjusted EBITDA margin guided to 32.5% to 32.8%, due to lapping prior year cost actions, ongoing investment in B2B growth, and unfavorable net FX impacts.
- Tougher comparisons in the second half of the year for bookings and room nights growth rates, with Q3 bookings growth guided to 5% to 7%.
The full ledger
Open Expedia Group, Inc.’s full ledger
A free account opens 5 company ledgers a month. All 36 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q1 FY26) — May 7, 2026
Expedia Group Q1 FY26 — Double-digit bookings growth and highest Q1 margin in 15 years
Read the full callDec 2025 (Q4 FY25) — Feb 12, 2026
Expedia Group Q4 FY25 — Accelerated Bookings & Revenue Growth, Expanded Margins
Read the full callEvery analysed call
Expedia Group earnings calls (EXPE)
Financials
What the filings say
Net profit, year on year: +166% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 4,060 | 3,184 | 2,988 | 3,786 | 4,412 | 3,547 | 3,426 | 4,315 |
| Operating profit | 762 | 216 | -70 | 485 | 1,036 | 420 | 251 | 800 |
| Operating margin | 18.8% | 6.8% | −2.3% | 12.8% | 23.5% | 11.8% | 7.3% | 18.5% |
| Other income | 112 | 119 | -147 | -62 | 95 | -166 | -226 | 227 |
| Interest | 61 | 62 | 58 | 58 | 62 | 121 | 111 | 61 |
| Profit before tax | 874 | 335 | -217 | 423 | 1,131 | 254 | 25 | 1,027 |
| Tax rate | 21.7% | 10.2% | 9.2% | 23.9% | 14.8% | 16.5% | 148.0% | 14.8% |
| Net profit | 684 | 299 | -200 | 330 | 959 | 205 | -6 | 878 |
| EPS ($ per share) | 5.28 | — | -1.56 | 2.61 | 7.76 | — | -0.05 | 7.30 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | — | — | 0 | 0 | 0 | 0 | 0 | 0 |
| Reserves | 517 | 879 | -1,781 | -1,761 | -1,409 | -632 | 602 | 1,696 |
| Total liabilities | 12,382 | 15,880 | 15,686 | 17,996 | 17,833 | 18,856 | 19,589 | 21,905 |
| Fixed assets | 1,877 | 2,198 | 2,257 | 2,180 | 2,210 | 2,359 | 2,413 | 2,447 |
| Investments | 28 | 526 | 24 | 200 | 48 | 28 | 300 | 320 |
| Total assets | 18,033 | 21,416 | 18,690 | 21,548 | 21,561 | 21,642 | 22,388 | 24,452 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 1,975 | 2,767 | -3,834 | 3,748 | 3,440 | 2,690 | 3,085 | 3,880 |
| Cash from investing | -559 | -1,553 | -263 | -931 | -580 | -800 | -1,262 | -531 |
| Cash from financing | -1,489 | 175 | 4,077 | -973 | -2,624 | -2,096 | -1,745 | -2,136 |
| Net cash flow | -212 | 1,392 | 41 | 1,667 | 46 | -190 | -87 | 1,402 |
| Capital expenditure | -878 | -1,160 | -797 | -673 | -662 | -846 | -756 | -770 |
| Free cash flow | 1,097 | 1,607 | -4,631 | 3,075 | 2,778 | 1,844 | 2,329 | 3,110 |
EXPE revenue by segment
B 2 C shrank from 68% to 62% of revenue over the last two years.
| Segment | Q3 FY2024 | Q4 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| B 2 C | 68% | 65% | 65% | 65% | 65% | 61% | 62% | 62% | +8.0% |
| B 2 B | — | — | — | — | — | — | 35% | 35% | — |
| Trivago | 3% | 2% | 3% | 3% | 3% | 3% | 4% | 3% | +48.0% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
EXPE operating KPIs by quarter
| KPI | Dec 2024 Q4 FY24 | 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.
Insider filings
149 filings between Oct 27, 2025 and Oct 15, 2026.
Open market
decisions to buy or sellPurchases
None
No insider bought shares.
Sales
$8.51M
12 sales by 4 insiders
Compensation
not trading decisions- 107
- Option exercise — converted options into shares
- 27
- Tax withheld — shares kept back by the company to cover tax
Also filed: 3 gifts.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Dzielak Robert J | — | $4.86M | Aug 24, 2026 |
| Jacobson Craig A | — | $1.84M | Aug 13, 2026 |
| Soliday Lance A | — | $1.55M | Aug 18, 2026 |
| Banerjee Madhumita Moina | — | $258.0K | Dec 1, 2025 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Oct 15, 2026 | Dzielak Robert J Chief Legal Officer & Sec'y | Tax withheld | 920 | $252.7K |
| Oct 15, 2026 | Dzielak Robert J Chief Legal Officer & Sec'y | Option exercise | 2,304 | $0 |
| Aug 24, 2026 | Dzielak Robert J Chief Legal Officer & Sec'y | Sale | 1,004 | $336.3K |
| Aug 18, 2026 | Soliday Lance A SVP & Chief Accounting Officer | Sale | 2,810 | $909.5K |
| Aug 17, 2026 | Dzielak Robert J Chief Legal Officer & Sec'y | Sale | 2,000 | $661.0K |
| Aug 15, 2026 | Diller Barry Chairman & Sr. Executive | Option exercise | 1,473 | $0 |
| Aug 15, 2026 | Dzielak Robert J Chief Legal Officer & Sec'y | Option exercise | 1,319 | $0 |
| Aug 15, 2026 | Dzielak Robert J Chief Legal Officer & Sec'y | Option exercise | 1,553 | $0 |
| Aug 15, 2026 | Soliday Lance A SVP & Chief Accounting Officer | Option exercise | 252 | $0 |
| Aug 15, 2026 | Andersen Derek Chief Financial Officer | Tax withheld | 3,624 | $1.21M |
| Aug 15, 2026 | Gorin Ariane Chief Executive Officer | Option exercise | 1,698 | $0 |
| Aug 15, 2026 | Diller Barry Chairman & Sr. Executive | Option exercise | 3,940 | $0 |
| Aug 15, 2026 | Dzielak Robert J Chief Legal Officer & Sec'y | Tax withheld | 2,334 | $776.5K |
| Aug 15, 2026 | Diller Barry Chairman & Sr. Executive | Option exercise | 1,170 | $0 |
| Aug 15, 2026 | Soliday Lance A SVP & Chief Accounting Officer | Option exercise | 329 | $0 |
| Aug 15, 2026 | Soliday Lance A SVP & Chief Accounting Officer | Option exercise | 366 | $0 |
| Aug 15, 2026 | Diller Barry Chairman & Sr. Executive | Tax withheld | 4,528 | $1.51M |
| Aug 15, 2026 | Gorin Ariane Chief Executive Officer | Option exercise | 4,097 | $0 |
| Aug 15, 2026 | Dzielak Robert J Chief Legal Officer & Sec'y | Option exercise | 1,422 | $0 |
| Aug 15, 2026 | Gorin Ariane Chief Executive Officer | Option exercise | 5,604 | $0 |
| Aug 15, 2026 | Soliday Lance A SVP & Chief Accounting Officer | Tax withheld | 481 | $160.0K |
| Aug 15, 2026 | Andersen Derek Chief Financial Officer | Option exercise | 7,223 | $0 |
| Aug 15, 2026 | Dzielak Robert J Chief Legal Officer & Sec'y | Option exercise | 1,546 | $0 |
| Aug 15, 2026 | Gorin Ariane Chief Executive Officer | Option exercise | 5,156 | $0 |
| Aug 15, 2026 | Gorin Ariane Chief Executive Officer | Tax withheld | 6,660 | $2.22M |
| Aug 15, 2026 | Diller Barry Chairman & Sr. Executive | Option exercise | 1,601 | $0 |
| Aug 15, 2026 | Soliday Lance A SVP & Chief Accounting Officer | Option exercise | 267 | $0 |
| Aug 14, 2026 | KHOSROWSHAHI DARA Director | Gift | 15,000 | $0 |
| Aug 13, 2026 | Jacobson Craig A Director | Sale | 3,133 | $1.03M |
| Aug 11, 2026 | Dzielak Robert J Chief Legal Officer & Sec'y | Sale | 3,003 | $945.9K |
| Jul 15, 2026 | Dzielak Robert J Chief Legal Officer & Sec'y | Tax withheld | 920 | $245.0K |
| Jul 15, 2026 | Dzielak Robert J Chief Legal Officer & Sec'y | Option exercise | 2,304 | $0 |
| Jun 5, 2026 | Dzielak Robert J Chief Legal Officer & Sec'y | Sale | 4,702 | $1.10M |
| Jun 1, 2026 | Menendez-Cambo Patricia Director | Option exercise | 871 | $0 |
| Jun 1, 2026 | KHOSROWSHAHI DARA Director | Option exercise | 499 | $0 |
| Jun 1, 2026 | KHOSROWSHAHI DARA Director | Option exercise | 738 | $0 |
| Jun 1, 2026 | Jacobson Craig A Director | Option exercise | 499 | $0 |
| Jun 1, 2026 | Jacobson Craig A Director | Option exercise | 738 | $0 |
| Jun 1, 2026 | Jacobson Craig A Director | Option exercise | 871 | $0 |
| Jun 1, 2026 | Dubugras Henrique Vasoncelos Director | Option exercise | 499 | $0 |
| Jun 1, 2026 | Dubugras Henrique Vasoncelos Director | Option exercise | 738 | $0 |
| Jun 1, 2026 | Dubugras Henrique Vasoncelos Director | Option exercise | 871 | $0 |
| Jun 1, 2026 | Clinton Chelsea Director | Option exercise | 499 | $0 |
| Jun 1, 2026 | Clinton Chelsea Director | Option exercise | 738 | $0 |
| Jun 1, 2026 | Clinton Chelsea Director | Option exercise | 871 | $0 |
| Jun 1, 2026 | KHOSROWSHAHI DARA Director | Option exercise | 871 | $0 |
| Jun 1, 2026 | Banerjee Madhumita Moina Director | Option exercise | 499 | $0 |
| Jun 1, 2026 | Banerjee Madhumita Moina Director | Option exercise | 738 | $0 |
| Jun 1, 2026 | Banerjee Madhumita Moina Director | Option exercise | 871 | $0 |
| Jun 1, 2026 | Anderson Beverly J Director | Option exercise | 499 | $0 |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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