Expedia Group Stock Earnings Reports

Expedia Group delivered a strong Q1 2026: gross bookings +13% to $35.5B, revenue +15% to $3.4B, and adjusted EBITDA of $542M (15.8% margin), representing nearly 600 basis points of year-over-year margin expansion. Booked room nights were up 6% (U.S. mid-single digits; EMEA low single digits; rest of world low double digits). Consumer bookings grew 10% (revenue +8%) with Vrbo and Brand Expedia both contributing; B2B bookings grew 22% (revenue +25%), led by Rapid API and large partner activity. Foreign exchange provided a modest tailwind. Management highlighted AI as a strategic growth lever across personalization, supply onboarding/quality, and servicing automation (30%+ of service interactions powered by AI), and early traction with AI-driven distribution channels (e.g., ChatGPT ads). Liquidity remained healthy ($5.8B cash & short-term investments), the company retired $1.75B short-term debt, issued $1B long-term debt post-quarter, secured a $2.5B revolver, and announced a new $5B share repurchase authorization (plan to continue opportunistic repurchases). Q2 guide: gross bookings growth 7–9%, revenue growth 9–11%, and EBITDA margin increase of 50–100 bps; full-year guidance reiterated (gross bookings +6–8%, revenue +6–9%, EBITDA margin expansion 100–125 bps), with management cautious given geopolitical volatility (Middle East conflict, Mexico travel advisories) that pressured March cancellations and late-quarter trends but saw normalization and recovery in April. Key investor considerations: strong margin leverage and capital return commitment, durable B2B momentum and supplier expansion (property count +10%), material strategic emphasis on AI to improve conversion and servicing efficiency, and exposure to near-term macro/geopolitical volatility that could affect booking patterns.