Expedia Group (EXPE) Company Report

Reported revenue of $4.41 billion and adjusted EPS of $7.57, surpassing Wall Street expectations.
B2B bookings climbed 26% to $9.38 billion, while total gross bookings rose 12% to $30.73 billion on strong consumer demand.
Adjusted EBITDA margin expanded by about 2.08 percentage points to roughly 33%, driven by mix shift and expense discipline.
Raised full-year 2025 revenue growth guidance to 6–8% (up from 3–5%) and projected adjusted EBITDA margin expansion of about two percentage points.
Returned capital via a $451 million share repurchase and declared a quarterly dividend of $0.40 per share.

Nov 7, 2025, 12:30 PM

Bloomberg

Expedia Group reports Q3 2025 earnings

EXPE

Earnings

Guidance Update

Gross bookings reached $30.7 B (+12% y/y) and revenue was $4.4 B (+9% y/y) as Expedia exceeded top- and bottom-line guidance in Q3’25.
Adjusted EBITDA rose to $1.449 B (+16% y/y) with margin expanding 208 bps to 32.9%, and Adj. EPS was $7.57 (+23% y/y).
Room nights booked totaled 108 M (+11% y/y), driven by highest US nights growth in over three years.
Expedia increased full-year 2025 guidance and issued Q4’25 guidance of gross bookings +6–8%, revenue +6–8%, and Adj. EBITDA margin +2%.

Nov 6, 2025, 9:30 PM

Presentation

Expedia Group reports Q3 2025 results

EXPE

Earnings

Guidance Update

Share Buyback

Delivered $30.7 B gross bookings (+12%), $4.4 B revenue (+9%), 33% adjusted EBITDA margin (+2 ppts) and $7.57 adjusted EPS (+23%) in Q3 2025.
B2C bookings reached $21.3 B (+7%) with $2.9 B revenue (+4%) and 41% EBITDA margin (+4 ppts); B2B bookings were $9.4 B (+26%) with revenue up 18% and flat 29% EBITDA margin.
Ended the quarter with $6.2 B of cash, $3 B free cash flow (TTM) and repurchased $451 M of shares in Q3 (2.3 M shares), leaving $1.8 B available under the buyback program.
Raised Q4 guidance to 6–8% bookings growth, 6–8% revenue growth, and ~2 ppts EBITDA margin expansion; full-year bookings now +7%, revenue +6–7% and margin +2 ppts versus 2024.
Continued progress on strategic priorities: loyalty program expansion, AI-driven product and advertising improvements, and sustained marketing productivity gains.

Nov 6, 2025, 9:30 PM

Transcript

Expedia Group reports Q3 2025 results and raises guidance

EXPE

Earnings

Guidance Update

Share Buyback

Gross bookings reached $30.7 billion, up 12%, and revenue was $4.4 billion, up 9%, driving a 2-point expansion in adjusted EBITDA margin to 33% in Q3 2025.
In Q3, B2C gross bookings were $21.3 billion (+7%) with revenue of $2.9 billion (+4%) and 41% EBITDA margin, while B2B gross bookings hit $9.4 billion (+26%) with revenue up 18% and 29% EBITDA margin.
The company raised Q4 guidance to 6–8% growth in both gross bookings and revenue and projects another 2-point EBITDA margin expansion; full-year 2025 guidance is now ≈7% bookings growth, 6–7% revenue growth, and 2-point margin improvement.
Free cash flow on a trailing-12-month basis was $3 billion, ending Q3 with $6.2 billion of unrestricted cash, and the company repurchased $451 million of shares during the quarter.

Nov 6, 2025, 9:30 PM

Transcript

Expedia Group reports Q3 2025 results and raises guidance

EXPE

Earnings

Guidance Update

Share Buyback

Overhead expenses were $620 million, up 3%, yielding nearly a one-point margin benefit from earlier cost-reduction actions.
Ended the quarter with $6.2 billion of unrestricted cash and short-term investments and delivered $3 billion of trailing-12-month free cash flow.
Deployed $451 million to repurchase 2.3 million shares, leaving $1.8 billion of buyback capacity under the current program.
Raised Q4 guidance to 6–8% gross bookings and revenue growth with ~2 points of adjusted EBITDA margin expansion; full-year bookings up ~7%, revenue up 6–7%, and EBITDA margins up ~2 points versus last year.
Inbound travel corridors to the U.S. nearly recovered to last year’s levels, while Canada-to-U.S. volume remained pressured but improved over the quarter.

Nov 6, 2025, 9:30 PM

Transcript

Expedia reports Q3 2025 results

EXPE

Earnings

Share Buyback

Guidance Update

Expedia saw 12% growth in gross bookings and 9% revenue growth year-over-year, with room nights up 11% in Q3 2025.
GAAP net income rose 40% and Adjusted EBITDA increased 16%, driving a 208 bps expansion in Adjusted EBITDA margin.
The company repurchased $451 million of shares in the quarter and declared a $0.40 per share quarterly dividend.
Full-year 2025 guidance was raised, with gross bookings now expected to grow 7% and revenue to grow 6–7%, and Q4 revenue guidance set at 6–8% growth.

Nov 6, 2025, 9:02 PM

8-K

Expedia Group reports Q3 2025 results

EXPE

Earnings

Share Buyback

Guidance Update

Delivered 12% y/y gross bookings growth to $30.7 billion and 9% y/y revenue growth to $4.4 billion; room nights rose 11% y/y to 108.2 million in Q3 2025
GAAP net income increased 40% y/y to $959 million, while adjusted net income grew 19% y/y to $962 million; Adjusted EBITDA rose 16% y/y to $1.45 billion with 208 bps margin expansion
Repurchased $451 million of shares in the quarter and declared a $0.40 per-share quarterly dividend
Raised full-year 2025 guidance to 7% gross bookings growth (from 3–5%) and 6–7% revenue growth (from 3–5%)

Nov 6, 2025, 9:01 PM

Press Release

Expedia Group’s trivago posts 13% revenue growth in Q3 2025

EXPE

Earnings

Guidance Update

trivago’s total revenue grew 13% year-over-year to €165.6 million, driven by an 11% increase in Referral Revenue to €161.6 million in Q3 2025.
Q3 net income reached €11.0 million, marking its strongest third quarter as a public company, while Adjusted EBITDA rose 18% to €16.0 million.
Completed the Holisto acquisition on July 31, 2025, which contributed a €3.2 million step-up gain in the quarter.
Maintained guidance for mid-teens revenue growth and at least €10 million Adjusted EBITDA in 2025, and expects double-digit revenue growth with €20 million Adjusted EBITDA in 2026.

Nov 5, 2025, 8:10 AM

Press Release

Expedia Group launches new AI travel planning tools and APIs

EXPE

Product Launch

Expedia Group B2B推出Smart Trip AI和多种AI驱动API，基于350+模型优化旅行规划与个性化
Smart Trip AI实时生成个性化行程建议，整合行业专长、资源与合作伙伴忠诚度计划
Merchandising API在旅客行程规划关键时刻展示相关且有价值的优惠信息，**58%**旅客更关注价格，2026年将上线全新解决方案
Typeahead API提升搜索转化率，通过即时推荐相关目的地将预订转化率提升20%，Lodging Sponsored Listings API当前处于Beta阶段

Oct 9, 2025, 4:30 AM

Press Release

Expedia Group shares jump after strong quarterly results

EXPE

Earnings

Guidance Update

Demand Weakening

Shares rose 17% after beating on top and bottom lines
Total bookings up 5% YoY and adjusted EBITDA up 16% YoY
B2B bookings grew 17%, achieving 16 consecutive quarters of double-digit growth
Fourth-quarter trends expected to moderate due to tough comps and US consumer/international travel uncertainty
AI is being deployed across customer value, growth, margin expansion, and efficiency priorities

Aug 8, 2025, 5:11 PM

CNBC Television

Earnings Transcripts

Quarterly earnings call transcripts for Expedia Group.

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