Expedia Group Reports Second Quarter 2026 Results

Exceeded guidance with 12% Gross Bookings and 14% revenue growth y/y
Expanded Adj. EBITDA margins y/y
Increases full year guidance

SEATTLE--(BUSINESS WIRE)--Expedia Group, Inc. (NASDAQ: EXPE) announced financial results today for the second quarter ended June 30, 2026.

Second Quarter Highlights (All comparisons year-over-year)

• Booked Room Nights grew 6%.
• Total Gross Bookings grew 12%, while B2B Gross Bookings grew 21% and B2C Gross Bookings grew 8%.
• Lodging Gross Bookings grew 11%.
• Revenue grew 14%, driven by B2B, which grew 23%.
• GAAP net income increased 166% while Adjusted net income grew 29%. Adjusted EBITDA increased 23% with 196 basis points of margin expansion.
• Diluted GAAP earnings per share increased 188% while Adjusted earnings per share increased 36%.
• Repurchased approximately 880 thousand shares for $200 million in the second quarter.
• Paid quarterly dividend of $0.48 per share on June 18, 2026 and declared quarterly dividend of $0.48 per share on August 5, 2026.

“We exceeded the high end of our guidance in the quarter, driven by growth in our consumer brands, sustained B2B momentum, and disciplined execution,” said Ariane Gorin, CEO of Expedia Group. “We continued to strengthen our marketplace through more personalized consumer product experiences and expanded supply across our business, while leveraging AI as a force multiplier to innovate faster and operate more efficiently. Our results reinforce the strength of our strategy and the differentiation of our platform for travelers, partners, and shareholders.”

Quarterly Dividend

Expedia Group’s Executive Committee, acting on behalf of its Board of Directors, has declared a quarterly cash dividend of $0.48 per share of outstanding common stock, payable on September 17, 2026 to stockholders of record as of the close of business on August 27, 2026.

Conference Call

Expedia Group will webcast a conference call to discuss second quarter 2026 financial results and certain forward-looking information on Wednesday, August 5, 2026 at 1:30 p.m. Pacific Time (PT). The webcast will be open to the public and available via ir.expediagroup.com. Expedia Group expects to maintain access to the webcast on the IR website for approximately twelve months subsequent to the initial broadcast. An earnings presentation containing financial and other statistical information supporting the prepared remarks on the call, together with reconciliations of the non-GAAP financial measures used, will be available on the "Investors" section of Expedia Group's website at ir.expediagroup.com beginning at approximately 1:00 p.m. PT on the same date and will remain available following the call.

About Expedia Group

Expedia Group, Inc. is the global travel marketplace with one purpose: to help travelers explore the world, one journey at a time. Expedia Group™ connects travelers, partners, and advertisers through its trusted brands, leading technology, and rich first-party data, delivering predictive, personalized experiences that shape the future of travel.

Expedia Group’s ecosystem includes three flagship consumer brands – Expedia®, Hotels.com®, and Vrbo® – the largest B2B travel business, and a premier advertising network. Guided by an experienced and passionate global team, Expedia Group helps millions of travelers in more than 70 countries explore the world with confidence and ease.

© 2026 Expedia, Inc., an Expedia Group company. All rights reserved. Expedia Group and the Expedia Group logo are trademarks of Expedia, Inc. CST: 2029030-50.

Expedia Group, Inc.
Trended Metrics
(All figures in millions, except ADR booked)

The metrics below are intended to supplement the financial statements in this release and in our filings with the SEC, and do not include adjustments for one-time items, acquisitions, foreign exchange or other adjustments. The definition or methodology of any of our supplemental metrics are subject to change, and such changes could be material. We may also discontinue certain supplemental metrics as our business evolves over time. In the event of any discrepancy between any supplemental metric and our historical financial statements, you should rely on the information included in the financial statements filed with or furnished to the SEC.

Notes & Definitions:

Booked Room Nights: Represents booked hotel room nights and property nights. Booked hotel room nights include both merchant and agency hotel room nights. Property nights are related to our alternative accommodation business.

Average Daily Rate (ADR) Booked: Represents the average paid rate per booked room night, calculated as total lodging gross bookings divided by booked room nights.

Booked Air Tickets: Includes both merchant and agency air bookings.

Gross Bookings: Generally represent the total retail value of transactions booked, recorded at the time of booking reflecting the total price due for travel by travelers, including taxes, fees and other charges, adjusted for cancellations and refunds.

Lodging Metrics: Reported on a booked basis except for revenue, which is on a stayed basis. Lodging consists of both merchant and agency model hotel and alternative accommodations.

B2C: The B2C segment provides a full range of travel and advertising services to our worldwide customers through a variety of consumer brands including: Expedia, Hotels.com, Vrbo, Orbitz, Travelocity, Wotif Group, ebookers, Hotwire.com, and CarRentals.com.

B2B: The B2B segment fuels a wide range of travel and non-travel companies including airlines, offline travel agents, online retailers, corporate travel management and financial institutions, who leverage our leading travel technology and tap into our diverse supply to augment their offerings and market Expedia Group rates and availabilities to their travelers.

trivago: The trivago segment generates advertising revenue primarily from sending referrals to online travel companies and travel service providers from its localized hotel metasearch websites.

Non-GAAP Measures

Expedia Group reports Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Net Income (Loss), Adjusted EPS, Free Cash Flow and Adjusted Expenses (non-GAAP cost of revenue, non-GAAP selling and marketing, non-GAAP technology and content and non-GAAP general and administrative), all of which are supplemental measures to GAAP and are defined by the SEC as non-GAAP financial measures. These measures are among the primary metrics by which management evaluates the performance of the business and on which internal budgets are based. Management believes that investors should have access to the same set of tools that management uses to analyze our results. These non-GAAP measures should be considered in addition to results prepared in accordance with GAAP, but should not be considered a substitute for or superior to GAAP. Adjusted EBITDA, Adjusted Net Income (Loss) and Adjusted EPS have certain limitations in that they do not take into account the impact of certain expenses to our consolidated statements of operations. We endeavor to compensate for the limitation of the non-GAAP measures presented by also providing the most directly comparable GAAP measures and descriptions of the reconciling items and adjustments to derive the non-GAAP measures. Adjusted EBITDA, Adjusted Net Income (Loss) and Adjusted EPS also exclude certain items related to transactional tax matters, which may ultimately be settled in cash. We urge investors to review the detailed disclosure regarding these matters in the Management Discussion and Analysis and Legal Proceedings sections, as well as the notes to the financial statements, included in the Company's annual and quarterly reports filed with the Securities and Exchange Commission. The non-GAAP financial measures used by the Company may be calculated differently from, and therefore may not be comparable to, similarly titled measures used by other companies.

Adjusted EBITDA (Adjusted Earnings Before Interest, Taxes, Depreciation & Amortization) is defined as net income (loss) attributable to Expedia Group adjusted for:

(1) net income (loss) attributable to non-controlling interests;
(2) provision for income taxes;
(3) total other expenses, net;
(4) stock-based compensation expense, including compensation expense related to certain subsidiary equity plans;
(5) acquisition-related impacts, including
         (i) amortization of intangible assets and goodwill and intangible asset impairment,
        (ii) gains (losses) recognized on changes in the value of contingent consideration arrangements;
        (iii) upfront consideration paid to settle employee compensation plans of the acquiree; and
        (iv) related transaction fees;
(6) certain other items, including restructuring;
(7) items included in legal reserves, occupancy tax and other, which includes reserves for potential settlement of issues related to transactional taxes (e.g. hotel and excise taxes), related to court decisions and final settlements, and charges incurred, if any, for monies that may be required to be paid in advance of litigation in certain transactional tax proceedings;
(8) that portion of gains (losses) on revenue hedging activities that are included in other, net that relate to revenue recognized in the period; and
(9) depreciation.

The above items are excluded from our Adjusted EBITDA measure because these items are non-cash in nature, or because the amount and timing of these items is unpredictable, not driven by core operating results and renders comparisons with prior periods and competitors less meaningful. We believe Adjusted EBITDA is a useful measure for analysts and investors to evaluate our future on-going performance as this measure allows a more meaningful comparison of our performance and projected cash earnings with our historical results from prior periods and to the results of our competitors. Moreover, our management uses this measure internally to evaluate the performance of our business as a whole and our individual business segments. In addition, we believe that by excluding certain items, such as stock-based compensation and acquisition-related impacts, Adjusted EBITDA corresponds more closely to the cash operating income generated from our business and allows investors to gain an understanding of the factors and trends affecting the ongoing cash earnings capabilities of our business, from which capital investments are made and debt is serviced.

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