Expedia Group Inc

Latest Results (19.07.2026):

Expedia Group Inc's results for the first quarter of 2026 show a strong start to the year: Q1 2026 gross bookings rose 13% year-over-year to $35.53 billion and revenue grew 15% to $3.43 billion, while Adjusted EBITDA increased 83% to $542 million and GAAP net loss narrowed sharply to $6 million. The company delivered record first-quarter profitability, generated robust operating and free cash flow, and announced significant capital returns.

Top-line growth

Gross bookings: $35.53B, +13% y/y; revenue: $3.426B, +15% y/y. Lodging gross bookings +13%. Booked room nights were 113.9 million, up 6%, and ADR booked rose ~7% to $228.1.

Segment performance

B2B outperformed: B2B gross bookings +22% and B2B revenue +25%. B2C gross bookings +10% and B2C revenue +8%. Advertising (trivago and EG) and other non-lodging revenue also grew.

Profitability & earnings

Adjusted EBITDA $542M, up 83% y/y with margin expansion of ~591 basis points to 15.8%. GAAP net loss attributable to Expedia Group, Inc. was $(6)M (97% improvement y/y). Adjusted EPS rose to $1.96 from $0.40 (+386%).

Cash flow & balance sheet

Net cash provided by operating activities: $3.931B (+33% y/y). Free cash flow: $3.747B (+36% y/y). Cash and restricted cash totaled $7.789B at quarter end; long-term debt ~$4.47B.

Capital returns

Repurchased ~3.3 million shares for $700M in Q1 and announced a new $5.0B share repurchase authorization. Quarterly dividend of $0.48 per share paid and declared.

Outlook

Expedia reiterated its Fiscal Year 2026 guidance (gross bookings ~$127–$129B) and Q2 2026 guidance, expecting continued bookings and revenue growth and modest Adjusted EBITDA margin expansion (Q2: ~0.5–1.0 percentage point expansion implied).

Other operational notes

Operating income turned positive at $251M (vs. a loss of $70M in Q1 2025). Management highlighted disciplined execution and the “highest first‑quarter profitability” in company history despite a dynamic macro environment.