Q2 26 EPS Adjusted
$5.76
BEAT +8.92%
Est. $5.29
Q2 26 Revenue
$4.32B
BEAT +3.41%
Est. $4.17B
vs S&P Since Q2 26
-2.6%
TRAILING MARKET
EXPE -2.1% vs S&P +0.5%
Market Reaction
Did EXPE Beat Earnings? Q2 2026 Results
Expedia Group posted a standout second quarter for fiscal 2026, beating Wall Street expectations on both the top and bottom lines as resilient travel demand and a surging B2B business propelled results well ahead of estimates. Adjusted EPS came in at… Read more Expedia Group posted a standout second quarter for fiscal 2026, beating Wall Street expectations on both the top and bottom lines as resilient travel demand and a surging B2B business propelled results well ahead of estimates. Adjusted EPS came in at $5.76, clearing the $5.25 consensus by 9.65% and extending the company's streak of beating EPS estimates to six consecutive quarters. Revenue of $4.32 billion topped the $4.17 billion consensus by 3.41% and climbed 14.0% year-over-year, with B2B segment growth of 23% serving as the single most powerful engine behind the outperformance. Total Gross Bookings reached $33.93 billion, up 12%, while Adjusted EBITDA expanded 23% to $1.12 billion, pushing margins up nearly two full points. Buoyed by the momentum, management raised its full-year 2026 revenue outlook to $16.05 billion to $16.22 billion, representing growth of 9% to 10%, and lifted its Adjusted EBITDA margin expansion target to 1.5 to 1.75 points, signaling continued confidence that consumers are prioritizing travel despite elevated prices.
Key Takeaways
- • B2B segment revenue grew 23% y/y, driven by double-digit growth across all regions and elevated marketing activity from largest partners
- • B2C marketing discipline and improved returns across channels drove 380 bps of B2C Adjusted EBITDA margin expansion
- • Lodging gross bookings grew 11% driven by 6% room night growth and 5% ADR increase
- • Revenue growth exceeded gross bookings growth primarily due to FX and revenue mix
- • Adjusted overhead expenses flat year-over-year as percentage of revenue declined 203 bps
- • trivago revenue surged 48% y/y
EXPE Forward Guidance & Outlook
Expedia Group raised its full-year 2026 guidance. Gross Bookings are now expected at $129.5-$130.8B (up 8-9% y/y, previously $127-$129B at +6-8%). Revenue is expected at $16.05-$16.22B (up 9-10%, previously $15.6-$16.0B at +6-9%). Adjusted EBITDA margin expansion is now expected at +1.5 to 1.75 points (previously +1 to 1.25 points). For Q3 2026, the company guides Gross Bookings of $32.2-$32.8B (+5-7%), revenue of $4.65-$4.75B (+5-8%), and Adjusted EBITDA of $1.51-$1.56B.
EXPE YoY Financials
Q2 2026 vs Q2 2025, source: SEC Filings
EXPE Revenue by Segment
With YoY comparisons, source: SEC Filings
EXPE Revenue by Geography
With YoY comparisons, source: SEC Filings
“We exceeded the high end of our guidance in the quarter, driven by growth in our consumer brands, sustained B2B momentum, and disciplined execution.”
— Ariane Gorin, Q2 2026 Earnings Press Release
EXPE Earnings Trends
EXPE vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
EXPE EPS Trend
Earnings per share: estimate vs actual
EXPE Revenue Trend
Quarterly revenue: estimate vs actual
EXPE Quarterly Results
9 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q2 26 BEAT | $5.29 | $5.76 | +8.92% | $4.32B | +3.41% |
| Q1 26 BEAT | $1.38 | $1.96 | +42.34% | $3.43B | +2.17% |
| Q4 25 BEAT FY | $3.37 | $3.78 | +12.21% | $3.55B | +4.00% |
| FY Full Year | $15.34 | $15.86 | +3.37% | $14.73B | +0.93% |
| Q3 25 BEAT | $6.95 | $7.57 | +8.99% | $4.41B | +3.52% |
| Q2 25 BEAT | $4.13 | $4.24 | +2.74% | $3.79B | +2.05% |
| Q1 25 BEAT | $0.36 | $0.40 | +11.48% | $2.99B | -0.85% |
| Q4 24 BEAT FY | $2.10 | $2.39 | +13.89% | $3.18B | +3.71% |
| FY Full Year | — | $12.11 | — | $13.69B | — |
| Q1 23 MISS | $-0.04 | $-0.20 | -400.00% | $2.67B | +0.23% |
| Q4 22 MISS FY | $1.67 | $1.26 | -24.55% | $2.62B | -2.97% |
| FY Full Year | — | $6.79 | — | $11.67B | — |