Q4 25 EPS
$3.78
BEAT +12.21%
Est. $3.37
Q4 25 Revenue
$3.55B
BEAT +4.00%
Est. $3.41B
vs S&P Since Q4 25
+15.6%
BEATING MARKET
EXPE +23.2% vs S&P +7.6%
Full Year 2025 Results
FY 25 EPS
$15.86
BEAT +3.37%
Est. $15.34
FY 25 Revenue
$14.73B
BEAT +0.93%
Est. $14.60B
Market Reaction
Did EXPE Beat Earnings? Q4 2025 Results
Expedia Group closed out the fourth quarter of fiscal 2025 with a decisive beat on both the top and bottom lines, posting adjusted EPS of $3.78 against the $3.25 consensus estimate, a 16.31% positive surprise, while revenue of $3.55 billion topped ex… Read more Expedia Group closed out the fourth quarter of fiscal 2025 with a decisive beat on both the top and bottom lines, posting adjusted EPS of $3.78 against the $3.25 consensus estimate, a 16.31% positive surprise, while revenue of $3.55 billion topped expectations by 3.96% and grew 11.4% year over year. The standout driver behind the results was the company's B2B segment, which delivered 24% gross bookings growth in the quarter and generated $1.29 billion in revenue, more than offsetting a comparatively modest 5% B2C expansion and underscoring how Expedia's wholesale and partner channels have become a meaningful growth engine. Adjusted EBITDA surged 32% to $848 million, with margin expanding nearly 370 basis points to 23.9%, even as GAAP net income was weighed down by losses on minority equity investments. Analysts remain divided on the stock's valuation despite the strong print, with some raising price targets while others maintain a cautious stance amid macroeconomic uncertainty. Looking ahead, Expedia guided full-year 2026 revenue of $15.60 to $16.00 billion, projecting 6% to 9% growth.
Key Takeaways
- • 9% growth in booked room nights driven by sustained strength internationally and in the U.S.
- • B2B gross bookings grew 24% year-over-year in Q4
- • Lodging gross bookings grew 13% in Q4
- • Merchant gross bookings grew 17% in Q4
- • Advertising and media revenue grew strongly (EG +19%, trivago +47%)
- • International revenue grew 17% YoY outpacing U.S. growth of 7%
- • Adjusted EBITDA margin expanded 368 basis points to 23.9%
EXPE YoY Financials
Q4 2025 vs Q4 2024, source: SEC Filings
EXPE Revenue by Segment
With YoY comparisons, source: SEC Filings
EXPE Revenue by Geography
With YoY comparisons, source: SEC Filings
“We delivered a strong finish to a great year and expect our positive momentum to continue in 2026. Our fourth quarter results exceeded both top and bottom-line expectations, reflecting disciplined execution of our strategic priorities in a healthy demand environment with double-digit growth in bookings and revenue. We are confident in our ability to maximize the power of our brands to deliver increased value to travelers, partners and shareholders.”
— Ariane Gorin, Q4 2025 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
8 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| 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 | — |